Shareholders of Croatia's oil and gas group INA will, at an extraordinary general shareholders' assembly convened for December 18, decide on three new members proposed by the government for the company's Supervisory Board, while the Hungarian MOL oil company, that also holds an interest in INA, will propose the re-election of its five representatives to the Supervisory Board for a new term of four years, INA reported on Monday.
INA reported on the Zagreb Stock Exchange (ZSE) that it had amended the invitation to the extraordinary general shareholders' assembly with the supplemented agenda of the general assembly.
The initial invitation for the extraordinary general shareholders' assembly was issued in early November when it was proposed that the Croatian government's representatives in the INA Supervisory Board --- Davor Stern, Damir Vandjelcic and Gordana Sekulic -- be replaced by new members: Sinisa Petrovic, Zeljko Peric and Mladen Prostenik.
According to the latest invitation, MOL also proposes the revocation and immediate re-appointment to four-year term of its representatives: Gyorgy Mosonyi, Oszkar Vilagi, Jozsef Molnar, Szabolcs Ferencz and Ferenc Horvath.
The ongoing term of the said five representatives expires on 10 June 2013, but now they are supposed to be given a new term of four years at the announced general assembly.
The current Supervisory Board consists of nine members with the Croatian government appointing three members (the Croatian side also makes the recommendation for the selection of the Chairman of the Board), five delegates come from MOL and one on behalf of INA employees.
