Experts warn: Extraordinary assembly of Feroelektro will continue Stanić's crime

The agony of Feroelektro workers is still ongoing, and the Government of FBiH at its last session gave power of attorney to Džemil Sabrihafizović to represent at the Feroelektro Assembly, writes the news agency Patria.

Otherwise, on the eve of the extraordinary assembly scheduled for March 26, 2016, experts from the Association of Citizens, Shareholders and Stakeholders in Companies and Investment Funds in BiH (UGDAU DIG U BIH) sent an open letter to Sabrihafizović.

You have received special power of attorney from the Government of FBiH, on which the cessation of the agony of Feroelektro workers depends – congratulations, but... we want to draw your attention to the following:

At the 45th session of the Government of FBiH held on Friday, March 18, 2016, under the heading "Personnel Solutions", it was written: "The Government of FBiH today granted powers of attorney for representation at assemblies of business companies to Džemil Sabrihafizović (Feroelektro d.d. Sarajevo) and Emina Selman (Fabrika duhana Sarajevo d.d. Sarajevo).

When we saw this and after the consultations we had yesterday and today, we could not resist contacting you and writing the following:

The extraordinary assembly of Feroelektro d.d. Sarajevo scheduled for March 26, 2016, on Saturday, is a continuation of the crime in Feroelektro by Goran Stanić and others...

And here's why: The Government of FBiH, at its 36th session held on January 8, 2016, made a decision to submit a request for the convening of an extraordinary assembly of shareholders of the business company "Feroelektro" d.d. Sarajevo and published it in the Official Gazette of FBiH No. 02/16.

The respect shown by Stanić's Supervisory Board, consisting of: Stanić Goran, Bilić Dragan, and Marjanović Dražen, towards the Government of FBiH is catastrophic, as evidenced by the published notice of the extraordinary assembly of Feroelektro in the Dnevni list newspaper of January 27, 2016.

Namely, the convening of the Feroelektro assembly was announced on January 27, 2016, and the extraordinary assembly was scheduled for March 26, 2016, while the Law on Business Companies /Official Gazette of FBiH No. 81/15/ in Article 229, Paragraph 3, stipulated that an extraordinary assembly should be held within 15 days of the announcement... and Stanić is holding it 60 days after the announcement of the extraordinary assembly of Feroelektro. "It makes your hair stand on end" due to the courage/audacity of Stanić Goran, Bilić Dragan, and Marjanović Dražen, and others, for not respecting either the Law or the Decision of the Government of FBiH.

Therefore, the decision of the Government of FBiH No. v. br 8/2016 of January 8, 2016, by which a request is sent to the supervisory board of Feroelektro to convene an extraordinary assembly, is not important at all for the aforementioned individuals; they are even mocking that decision because an extraordinary assembly has its significance, which is why it is called extraordinary, and that is due to the fact that the privatization of Feroelektro was annulled by a final court ruling, and Feroelektro, as of January 15, 2015, is returned to FBiH in the amount of 60.6779%, and the operations of /Stanić's/ Feroelektro for 2014 were not adopted at the Assembly held on September 19, 2015.

Dear Džemil, we believe that as a lawyer, we have explained the importance of your power of attorney for the extraordinary assembly of Feroelektro, but we will continue with the following remarks:

On Saturday, March 26, 2016, if you do not act in the following manner (follow our instructions), your role as proxy will be very questionable and tragic for us and the workers of Feroelektro and the public in FBiH, because you will allow the agony of Feroelektro to continue:

As the chairman of the extraordinary assembly, you have the right to ask the present shareholders and their proxies to change the proposed secretary, Olivera Galić, because it is a lie that she is the secretary of Feroelektro and an employee (proof: review of the PIO/MIO list).

Nominated candidates for the supervisory board of Feroelektro must be present at the extraordinary assembly of Feroelektro, and they are: Dijana Hadžijusufović, Vensan Pašović, and Ediba Hamamdžić. Invite them to attend the extraordinary assembly…

When the work of the extraordinary assembly is completed, you, as the chairman of the extraordinary assembly and as the proxy of the majority shareholder, the Government of FBiH, immediately call for an extraordinary session of the supervisory board with only three items on the agenda: 1. Decision on the election of the Chairman of the Supervisory Board, 2. Decision on the dismissal of the company director, and 3. Decision on the appointment of Smajić Senad as acting director of the company.

While the session of the Supervisory Board is ongoing, the minutes of the extraordinary assembly are being prepared simultaneously (and a template of the minutes has been provided to you).

The minutes of the extraordinary assembly, the Decisions from the assembly, and the Decisions from the Supervisory Board session are the attachments you need to apply to KVP for the registration of the Supervisory Board in the register of issuers with KVP.

This complete application for KVP is to be submitted to KVP on Monday morning, March 28, 2016. You, as the chairman of the assembly (you hold this mandate until the new assembly of Feroelektro), intervene with KVP to obtain a Decision on the change of registration in the KVP register, the change of members of the Supervisory Board of Feroelektro, as soon as possible.

Once this decision is obtained from KVP, you submit the notarized application to the registry court to register the new acting director, Smajić Senad, who has the Government's decision approving his appointment as acting director of Feroelektro.

Then, after 16 months from the annulled privatization, Stanić's management of Feroelektro will finally be removed. And finally, don't forget, Džemil, that the administrative building of Feroelektro on Titova Street in Sarajevo is used by the consulate of the Croatian embassy, and the rent is paid or not paid to Stanić or others...

Although this matter is very well known to us, we have also used the "fresh" case of how the management of JP EP HZ HB d.d. Mostar was replaced (by force) despite being very successful, led by Krešić Nikola, whose term had not expired and who had no illegal activities, and all this was done by others in "24 hours", and we will write to you about this another time and very soon – writes SET – independent expert team of UGDAU DIF U BIH