Annual report - HSE

1.2.2 Monitoring and supervision of the
company’s operations by the Supervisory
Board appointed on 6 December 2012
The current Supervisory Board was appointed at the HSE d.o.o. Supervisory Board meeting
of 6 December 2012, and it held one correspondence meeting by the end of the year,
which took place on 27 December 2012. The SB adopted the following decisions:
- It gave its approval for conclusion of the contract on taking out a short-term loan for
ensuring bridge financing of the Unit 6 project before TEŠ could draw the long-term
loans; and
- It gave its approval to the HSE Managing Director as the guarantor for signing
reimbursement agreement regarding costs from postposing the deadline for submitting
the government guarantee for obtaining the EIB loan, and for increasing the guarantee
premium TEŠ d.o.o had to pay.
1.2.3 Examination of the Annual Report and
position on the Audit Report
Pursuant to Article 272, Paragraph 3, of the Companies Act, the Company’s management
submitted to the Supervisory Board the 2012 Annual Report of the Company HSE and
the HSE Group including the Auditor’s Reports on 11 July 2013. The Supervisory Board
discussed the annual report at its 11 th meeting on 19 and 29 July 2013 and determined that
the management prepared the 2012 Annual Report within the legal deadline and that the
annual report contained all the elements laid down by the Companies Act.
The audit of the 2012 Annual Report of the company HSE and the HSE Group was
performed by Deloitte Revizija, d.o.o., which issued a positive, unqualified opinion on the
unconsolidated and consolidated financial statements of the company and the Group and
determined that the business report of the company and the Group was consistent with
the audited financial statements for 2012.
At its 4 th regular meeting on 17 July 2013, the HSE SB Audit Committee discussed information
on audited financial statements of the company HSE d.o.o. for 2012 and estimated that the
Company operated in accordance with the expectations for 2012.
On the basis of the Audit Committee’s opinion and the unqualified Auditor’s Reports, the
Supervisory Board confirmed the 2012 Annual Report of the company HSE and the HSE
Group and their content, as submitted by the company’s management.
Annual Report HSE 2012
1 Introduction
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