Source: | Thursday, 25.02.2010.| 12:22
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BIP: Only one offer for representative of capital

The Share Fund of the Republic of Serbia announced that it had received only one proposal for appointment of the representative of capital in Belgrade Beer Industry (BIP).

The Share Fund, of which portfolio now includes the stock package of BIP, asked the Mayor of Belgrade, the Chamber of Commerce of Belgrade, the Association of BIP's Stockholders and the Independent Trade Union to give proposals for appointment of the temporary representative of capital.

- Until today, the Fund has received only one proposal for appointment of the temporary representative of capital, and that proposal came from Minor Stockholders Association Novi Akcionari BIP (New Stockholders of BIP) - the Fund wrote in its statement and added that other proposals were expected in few days.

The primary function of the representative of capital is to run the company's property upon the termination of the sales contract. The Fund pointed out that "the person who was a member of the consortium of buyers or a legal representative of the company - director, the members of the Administrative Board and the Supervisory Board who were appointed by the former majority owner of the company can not be nominated for the temporary representative of capital".

The Fund announced that "the buyer lost all ownership and managerial rights on the day of the termination of the contract on sale of capital, that is, property", as well as that "the Share Fund has a legal obligation to conduct the procedure of appointment of the temporary representative of capital for the needs of the management of transferred capital of the privatization subject".

The trade union and stockholders of Belgrade Beer Industry (BIP) asked the state to appoint the representative of capital in the company and warned that the Brewer was still run by the representatives of former owners from the Lithuanian-Swedish consortium.

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