At the General Assembly of shareholders of Viro sugar factory held on Monday, all proposed decisions were adopted. The General Assembly of shareholders approved the Management Report on the operations of Viro sugar factory in 2006 and the report of the Supervisory Board. The annual financial report for 2006 was also accepted, along with the distribution of the net profit after taxation of 101.8 million kuna.
According to the decision of the General Assembly, 16.5 million kuna will be used for the payment of dividends to shareholders in the amount of 12 kuna per share. The dividend payment will be made by October 31, 2007. The remaining 85.3 million kuna will be allocated to retained earnings. The Assembly authorized the Management to increase the share capital of Viro sugar factory by a maximum of 124,800,000.00 kuna by issuing new shares (approved share capital) over the next five years, and approved the addition of activities related to design, construction, and supervision of construction to the Business Subject.
– Considering the extensive construction work required for the installation of the purchased equipment from the sugar factory in Ormož, we decided to open our own design office and hire several engineers who will oversee the installation of new equipment in Viro – stated Damir Barić, CEO of Viro sugar factory. The new equipment will enable a 30 percent increase in the capacity of the Virovitica sugar factory.
