UNI - EN REPORT No33/2013
In accordance with the provisions of the Ljubljana Stock Exchange Rules, Nova KBM d.d., Ulica Vita Kraigherja 4, Maribor, hereby gives the following notice:
At the 24th Shareholders´ meeting, which took place yesterday, Nova KBM shareholders authorised the Bank´s Management Board to increase the share capital of the Bank by not more than €400 million. These funds will help the Bank and its group strengthen their capital positions and meet the development objectives.
The Shareholders´ Meeting was attended by shareholders who hold in aggregate just over 85% of shares with voting rights. In accordance with the ruling made by the Securities Market Agency, the Republic of Slovenia (as the largest shareholder of the Bank) was entitled to vote at the Shareholders´ Meeting through Slovenska odškodninska družba.
In the opening presentation of the Management Board, the shareholders were informed that, based on the results of the forensic audit, actions for compensation will be brought against 15 responsible persons who have in the past allegedly caused damage to the Nova KBM Group worth €66.5 million. The first lawsuits are expected to be filed in July. The Management Board clarified that the legal procedures related to certain transactions that have been subject to audit are still being carried out, so it is expected that further actions will be brought against responsible persons in the autumn this year.
Aleš Hauc, President of Nova KBM´s Management Board, pointed out that since April 2012, a number of important measures have been taken to improve the performance and reputation of the Bank. The Bank has been able to reduce operating costs across all business segments while retaining the same quality of customer service. A slimmer and a more efficient organisational structure of the Bank will be introduced in July. Furthermore, the number of senior management positions will be reduced, as will be the bonuses paid to managers. The risk management system and the customer relations function have been strengthened and improved, and the staffing level of the Loan Recovery Department has been increased. In order to be ready to transfer the first package of bad loans to the state-run Bank Assets Management Company, which is expected to happen in July, the Bank has worked intensively to restructure its loan portfolio. The Bank performs well, it maintains its market share, and meets all the regulatory capital and liquidity requirements. In the past year, it managed to improve its loan-to-deposit ratio. The new development strategy will be finalized once the Bank´s restructuring plan is approved by the European Commission.
Peter Kukovica, Chairman of the Supervisory Board, said the corporate governance of both the Bank and the Nova KBM Group had improved under the current Management and Supervisory Board. The Supervisory Board fully supports the Management Board in its work to build a strong foundation for future operations of the Bank, as well as in its efforts to clarify past actions and to set up mechanisms that will prevent the Bank from being involved in any irregularities in the future.
The minutes of the course and the resolutions of the 24th Shareholders´ Meeting are available on the websites of the Ljubljana Stock Exchange and Warsaw Stock Exchange, and on the Bank´s website.
This notice will be available on the Bank´s website from 11 June 2013, for a period of at least five years.
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