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Shareholders’ Assembly
The Shareholders' Assembly is the highest body of the Company, which must be established (Article 34, paragraph 2 of the Law on Companies of Montenegro). At the assembly, shareholders express their will, making it the place where shareholders' management rights are exercised. The assembly is not a permanent body in terms of sessions, as meetings are held as needed, except for the regular one, the timing of which is defined by law.
The competencies of the Shareholders' Assembly, as the highest body of the company, are determined by law and are usually imperative. Essentially, this body has four categories of functions: normative, property-related, electoral, and status-related, which are further specified in the founding act or the company's statute, and they specifically relate to:
- Adoption, amendments, and supplements to the statute, as the fundamental act
- Election and dismissal of the Board of Directors, appointment and dismissal of auditors and liquidators
- Policy on compensation and remuneration of Board of Directors members
- Adoption of annual financial statements, business reports, and auditors' reports
- Disposal of assets
- Increasing and decreasing capital
- Profit distribution
- Voluntary liquidation, restructuring, initiation of bankruptcy proceedings
- Approval of the assessment of non-cash contributions
- Any other matters related to concluding contracts for the purchase of assets from the founders, issuing bonds, limiting or revoking the priority rights of shareholders to subscribe to shares, and other matters falling under the competence of the Board, upon its request.
In order to comply with the fundamental principles of corporate governance, and in line with OECD principles (especially those related to shareholder rights, their equal treatment, and transparency), the Port of Bar has, since its first Assembly convened in accordance with the Law on Companies on July 17, 2002, opted for free access for shareholders and interested parties to the materials for the published Shareholders' Assembly, which are posted on the port's website and can be downloaded.
SHAREHOLDERS' ASSEMBLIES
NOTICES
Address
Obala 13.jula no.2
85000 Bar, Montenegro
Phone
+382 30/300 400
+382 30/300 590
