Information on the 50th General Meeting of Geoplin d.o.o. Ljubljana

At yesterday’s 50th General Meeting of Geoplin d.o.o. Ljubljana, the shareholders gave their consent to extending the loan agreement based on which the majority shareholder, Petrol d.d., Ljubljana, holding a 74.34 percent ownership share in Geoplin d.o.o. Ljubljana, will ensure liquidity for Geoplin d.o.o. Ljubljana and enable it to continue to operate smoothly. The management has estimated that a capital increase of the company is not needed in the current market situation.

At the General Meeting, the shareholders were also briefed on the financial effects of the limited gas supply under the Russian agreement with Gazprom which can no longer be efficiently managed in a way that would avoid any damage to Geoplin d.o.o. Ljubljana. To this end, the General Meeting gave its consent to executing legal transactions and acts to protect the interests of the company. The latter has called upon Gazprom to resolve the breach of agreement and provide full compensation for damages resulting from such breach.