Annual report - HSE
Annual report - HSE
Annual report - HSE
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1.2.2 Monitoring and supervision of the<br />
company’s operations by the Supervisory<br />
Board appointed on 6 December 2012<br />
The current Supervisory Board was appointed at the <strong>HSE</strong> d.o.o. Supervisory Board meeting<br />
of 6 December 2012, and it held one correspondence meeting by the end of the year,<br />
which took place on 27 December 2012. The SB adopted the following decisions:<br />
- It gave its approval for conclusion of the contract on taking out a short-term loan for<br />
ensuring bridge financing of the Unit 6 project before TEŠ could draw the long-term<br />
loans; and<br />
- It gave its approval to the <strong>HSE</strong> Managing Director as the guarantor for signing<br />
reimbursement agreement regarding costs from postposing the deadline for submitting<br />
the government guarantee for obtaining the EIB loan, and for increasing the guarantee<br />
premium TEŠ d.o.o had to pay.<br />
1.2.3 Examination of the <strong>Annual</strong> Report and<br />
position on the Audit Report<br />
Pursuant to Article 272, Paragraph 3, of the Companies Act, the Company’s management<br />
submitted to the Supervisory Board the 2012 <strong>Annual</strong> Report of the Company <strong>HSE</strong> and<br />
the <strong>HSE</strong> Group including the Auditor’s Reports on 11 July 2013. The Supervisory Board<br />
discussed the annual <strong>report</strong> at its 11 th meeting on 19 and 29 July 2013 and determined that<br />
the management prepared the 2012 <strong>Annual</strong> Report within the legal deadline and that the<br />
annual <strong>report</strong> contained all the elements laid down by the Companies Act.<br />
The audit of the 2012 <strong>Annual</strong> Report of the company <strong>HSE</strong> and the <strong>HSE</strong> Group was<br />
performed by Deloitte Revizija, d.o.o., which issued a positive, unqualified opinion on the<br />
unconsolidated and consolidated financial statements of the company and the Group and<br />
determined that the business <strong>report</strong> of the company and the Group was consistent with<br />
the audited financial statements for 2012.<br />
At its 4 th regular meeting on 17 July 2013, the <strong>HSE</strong> SB Audit Committee discussed information<br />
on audited financial statements of the company <strong>HSE</strong> d.o.o. for 2012 and estimated that the<br />
Company operated in accordance with the expectations for 2012.<br />
On the basis of the Audit Committee’s opinion and the unqualified Auditor’s Reports, the<br />
Supervisory Board confirmed the 2012 <strong>Annual</strong> Report of the company <strong>HSE</strong> and the <strong>HSE</strong><br />
Group and their content, as submitted by the company’s management.<br />
<strong>Annual</strong> Report <strong>HSE</strong> 2012<br />
1 Introduction<br />
13