Pursuant to Article 135, 136 and Pursuant to Article 135 and 136 and 161 of the Companies Act (Official Gazette of Montenegro no. 65/20) and Article 45 paragraph 1 item 2 of the By-Laws of Crnogorski elektroprenosni sistem AD, the Board of Directors hereby convenes to convene
XVI ANNUAL SHAREHOLDER MEETING
OF CRNOGORSKI ELEKTROPRENOSNI SISTEM AD
The shareholders' meeting will be held in Podgorica. 25.06.2025at the hotel "Crowne Plaza", 7 Cetinjska Street, starting at 10.00 h.
For XVI regular Shareholders' Meeting, the following was established
Agenda :
1. Decision on the adoption of Financial Statements of Crnogorski elektroprenosni sistem AD for the year 2024 with audit report4;
2. Decision on distribution of profit earned by Crnogorski elektroprenosni sistem AD in the year 2024;
3. Information on the current status and proposal for revising the budget and completion dates for finishing the project connecting electric power system of Montenegro and Italy via the submarine direct current cable ;
4. Decision on the adoption of Operating Statement of Crnogorski elektroprenosni sistem AD for the year 2024;
5. Decision on the selection of an auditor of Crnogorski elektroprenosni sistem AD for the year 2025;5;
6. Decision on the adoption of the Remuneration Policy of Crnogorski elektroprenosni sistem AD;
7. Decision on:
7.1 Removal of members of the Board of Directors of Crnogorski elektroprenosni sistem AD;
7.2 Appointment of members of the Board of Directors of Crnogorski elektroprenosni sistem AD.
DecisionMeeting to in agenda items 1, 4, 5, 6 and 7.1. shall be adopted, by a majority vote of the shareholders present or represented, of the quorum consisting of at least ½ (50%) + 1 of of the total voting shares.
Decisions under item 2 and 3. agenda shall be adopted by a majority of 77% total number all of all the Company’s voting shares..
The decision under item 7.2 is made on a cumulative voting basis. Candidates for the Board of Directors shall be elected who receive the highest number of votes from a quorum, which constitutes at least ½ (50%) + 1 of the total number of the Company's voting shares.
Material for the XVI Annual Shareholder Meeting will be made available to the shareholders at CGES’ premises in Podgorica at the address Bulevar Svetog Petra Cetinjskog 18 (office no. 201).
Insight into the material for The 16th Annual Shareholder Meetingwill be made available every working day between 11 – 13:00, starting from 05.06.2025.
Shareholders who are not able to attend the meeting can vote in advance through ballots delivered to the following address: Crnogorski elektroprenosni sistem AD - Bulevar Svetog Petra Cetinjskog 18 – Podgorica (for the Shareholder Meeting) not later than the beginning of the Shareholder Meeting. The ballot must be certified in accordance with the law.
Shareholders with registered office/residence outside the territory of Montenegro may electronically participate in the work of the Shareholder Meeting and vote on, agenda are items before or during the meeting .
Shareholders who intend to participate in the work of the Shareholder Meeting may notify the Company via their official e-mail address to the following e-mail address: Katarina Blagojevic@cges.me, no later than 15.06.2025Attached to the e-mail, it is necessary to submit a copy of the power of attorney and personal documents in order to identify the shareholder/proxy.
The original power of attorney shall be submitted not later than 22.06.2025to the following address:
Crnogorski elektroprenosni sistem AD - Bulevar Svetog Petra Cetinjskog 18 – Podgorica (for the Shareholder Meeting – attn Company Secretary).
Registration of attending shareholders and proxies will be carried out from 9:00 h to 10:00 h on the day at andat the venue of the Shareholder Meeting.
Shareholders will be identified at the meeting after presenting identity documents, and proxies will be identified after presenting power of attorney and identity documents. The power of attorney must be certified in accordance with law.
Notice of convening the XVIMeeting ShareholderMeeting forms of power of attorney and ballots, as well as instructions on how to vote electronically, will be available at the Company’s website: www.cges.me. www.cges.me.
CHAIRMAN OF THE BOARD,
Aleksandar Mijušković, BScEE
1. glasački listić -tačke od 1 do 7.1; XVI redovna Sa.pdf