Annual report - HSE

• It agreed with the management’s proposal to the founder to use the company’s 2011
accumulated profit for creation of other revenue reserves;
• It ordered the HR-nomination Committee to prepare call for tenders for position of
Managing Director, to publish it by 30 June 2012, to examine the submitted applications
and to prepare the list of candidates;
• It was acquainted with the notice of the HSE’s Workers’ Council on recall of the SB
members Rene Jeromel and Mojca Turnšek, M.Sc., on 11 July 2012, and with the
appointment of Marjanca Molan and Stanislav Prevalnik as SB members on 12 July 2012;
• It was acquainted with the presentation of the project of constructing HPP on the Mura
River, PSP Kozjak, and other projects of the company DEM;
• It gave its approval to the Company’s management to conclude or extend the insurance
contracts for D&O insurance of the HSE Group companies for one year, starting on 1
October 2012;
• It proposed to the founder to adopt a decision on changes and amendments of the
Articles of Incorporation of the limited liability company HSE, and approved the material
for the General Meeting;
• It adopted the amendments to the Rules governing the work of the Supervisory Board;
• On the basis of provisions of ZGD and the provision of Article 16 of the Articles of
Incorporation and presentation, the SB appointed a new Managing Director of the
Company as at 5 November 2012; it adopted adequate decisions for weekly reporting of
the management until the new Managing Director would take office and was informed
about the management’s work on weekly basis;
• It was acquainted with the completion of activities regarding the project of sHPP
construction on the River Kraljuščica;
• It was acquainted with the course of the PV General Meeting;
• It was acquainted with the issues of gas supplies required for TEŠ operations;
• It was acquainted with information on the electricity supply issues of the company Talum;
• It was acquainted with information about solving the issues regarding PSP Avče turbine;
• It was acquainted with the DEM’s report on issues with implementation of trial runs tests
for turbine 1 at HPP Zlatoličje.
In 2012, the Audit Committee of the Company’s Supervisory Board held two regular
meetings, at which it discussed various strategic and business issues:
• It was acquainted with the information about unaudited financial statements of the
company HSE for 2011;
• It was acquainted with the AUKN RS recommendation no. 12 and discussed it;
• It was acquainted with the auditor’s reports to the audited Annual Report of the company
HSE and the HSE Group for 2011 and proposed to the audit firm to prepare a management
letter to warn the management on the risks regarding the company TET;
• It proposed to the audit firm to amend the report for the Company and the Group for the
last five years in accordance with Article 39 of the Auditing Act, and to present it at the
HSE Supervisory Board meeting.
In 2012, the Supervisory Board intensively focused also on procedures for performance of
the construction of replacement Unit 6 at TEŠ d.o.o. The SB estimates that it has acted in
the benefit of the company, on the basis of information and reports submitted to it by the
management within the scope of its powers and competences laid down in the Articles of
Incorporation.
The Supervisory Board in its current composition intensified its activities in the area of
investment in 600 MW replacement Unit 6 at TEŠ d.o.o., and continues to carry them out
also in 2013, as within the scope of its powers it initiated the procedures for determining
responsibility for the alleged misleading of the Government and National Assembly, as
well as for other errors that allegedly occurred during the investment performance.
Annual Report HSE 2012
1 Introduction
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