The ninth ordinary General Meeting of Shareholders of the Montenegrin Electricity Transmission System AD was held in Podgorica on 26 June, at which the shareholders unanimously adopted the CGES's business report for the previous year, the financial statements with the independent auditor's report, as well as the Decision on amendments and additions to the Company's Statute.
Regarding the Resolution on the distribution of the CGES's net profit for 2017, amounting to EUR 4.7 million, it was decided to add it to the undistributed, i.e., accumulated profit from previous years.
The General Meeting of Shareholders confirmed the Company's readiness for a loan facility, from which the construction of the energy infrastructure for the Lužica project will be financed.
KPMG was unanimously elected as the auditor for CGES for 2018.
At the continuation of the Assembly, the shareholders discharged and then elected new members of the CGES Board of Directors. Government capital will, alongside Vesna Bracanovićto represent Zoran Rakocevic, Tamara Ivković i Zoran Miljanić, whose mandates have been renewed. Terna has also appointed two representatives Giovanni Cerchiarini i Carla Creathe current members of the CGES Board of Directors, while Elektroprivreda Srbije will also be represented in the coming year. Jelena Matejić.
On the same day in Podgorica, the constitutive session of the CGES Board of Directors was held. The position of Chairman of the Board of Directors was assigned to Vesna Bracanović, MSc, while the deputy chairman of this body Giovanni Cerchiarini.