Annual Shareholders’ Assembly of the joint stock company Ericsson Nikola Tesla took place on May 31, 2011 with the represented equity capital of HRK 83,962,600, which means 63.05 percent of the total share capital of the Company. Thus, the conditions for lawfully convened an eligible operation of the annual general assembly were set which was the precondition for the decisions made to be legally valid. Snježana Bahtijari, the president of the assembly, appointed to the position by the company Supervisory Board, conducted its procedures.

The Annual Assembly was attended by the shareholders’ representatives and the Company management, as well as by Roland Nordgren the Supervisory Board president, and the Supervisory Board members: DSc Ignac Lovrek, Carita Jönsson and Zvonimir Jelić. Tomas Malm represented LM Ericsson, the major individual shareholder.

MSc Gordana Kovačević, the company president, addressed the audience by presenting the company’s performance in 2010 and prospects for 2011.

Andrew Skelton, the Finance director presented the financial performance of the company for the previous year and the Q1 non-revised results of the current year. Sanja Trokter Gosarić from the auditing company PricewaterhouseCoopers, gave a positive opinion on the company’s performance in 2010. Zvonimir Jelić a member of the Supervisory Board presented its report for 2010.

The Annual Shareholders’ Assembly made the decision on regular dividend payment amounting to HRK 170 per share, and the total of HRK 190 per share, respectively. This means, the total of HRK 93.79 per share will be paid from the non-distributed retained earnings in 2006 and 2009 and from the part of net income realized in the financial year 2010, and HRK 96.21 from a part of retained earning in 2001. The dividend shall be paid to all Company shareholders, who on May 24, 2011 were subscribed to Ericsson Nikola Tesla shares at the securities account with the Central Securities Depository. The dividend will be paid on June 29, 2011. The Company income for the financial year 2010 amounting to HRK 24,061,617.82 will be distributed for the dividend payment in the full amount.

The Assembly approved a release note to Gordana Kovačević, the director of the Company as well as to the president and members of Supervisory Board who were managing the Company in 2010.
In addition, the Assembly made the decision on Statute amendments and supplements pursuant to the proposal by the Supervisory Board. After the expiry of his supervisory board member legislative period, DSc Ignac Lovrek was re-elected for another four-year term. Pursuant to the Assembly decision, PricewaterhouseCoopers d.o.o., Zagreb, was appointed again the Company’s auditor for 2011.

Communications Ericsson Nikola Tesla