The eighth ordinary General Meeting of Shareholders of the Montenegrin Electricity Transmission System AD was held in Podgorica on 29 July, at which The shareholders unanimously adopted the CGES's business report for the past year, as well as the financial statements with the independent auditor's report.
They also confirmed the decisions of the Board of Directors of 30 May 2017 regarding a loan facility for construction financing energy infrastructure for the 'Luštica' project, as well as election of the auditor of the Montenegrin Transmission System AD for 2017.
KPMG was unanimously elected as the auditor for this year.
Regarding the Resolution on the distribution of the CGES's net profit for 2016, amounting to €2,436,226.00, it was unanimously decided that it be added to the retained earnings from previous years.
The shareholders, during the continuation of the Assembly, discharged and then elected the new members of the CGES Board of Directors, which, on behalf of the Government of Montenegro, is composed of:Vesna Bracanović, Tamara Ivković, Zoran Miljanić, Zoran Rakočević. The representatives of Terna on the Board of Directors are Tiziano Ceccarani and Carlo Crea, while Jelena Matejić was elected on behalf of EMS.
On the same day in Podgorica, the constitutive session of the CGES Board of Directors in its new composition was held. The position of Chairperson of the Board of Directors was assigned to Vesna Bracanović, M.A. in Economics, while the Deputy Chairperson of this body is Tiziano Ceccarani, M.Sc.