4 December 1997: A 21 November shareholders“ meeting of the Czech Republic glassmaker Sklarny Kavalier, in which Skloexport has a 23% stake, approved changes giving general meetings greater powers an…
4 December 1997: A 21 November shareholders“ meeting of the Czech Republic glassmaker Sklarny Kavalier, in which Skloexport has a 23% stake, approved changes giving general meetings greater powers and thus increasing protection for the company“s small shareholders. The meeting also decided that the company“s board of directors can decide on the sale of parts of the company or its assets up to Kc 30 million and on the sale of real estate from the company“s assets up to Kc 50 million in an individual case. Shareholders approved the lowering of the number of board members from seven to five. It acknowledged the resignations of board members Petr Schut and Zbynek Pitra and supported the board“s suggestion that Karel Bartosek be dismissed from the board of directors and that Pavel Balak be dismissed from the supervisory board. Julian Healy was elected to the board of directors and Jindirch Matejik was elected to the supervisory board. In the first nine months of this year Sklarny Kavalier reported sales of Kc 1.137 billion, 4.25% up on the same period in 1996. Provisions totalled Kc 43 million, and pre-tax profit for the period totalled Kc 71.808 million.