Sharehoders’ Assembly held its third extraordinary meeting

The Shareholders’ Assembly of HIP-Petrohemija held its third extraordinary meeting on Friday, May 6, 2022, where a decision was brought about changing the legal form of HIP-Petrohemija, from the stock company to limited liability company.

Namely, in accordance with the the Strategic Partnership Agreement executed in December last year by and between the Serbian Government, HIP-Petrohemija a.d. Pančevo, and NIS a.d. Novi Sad, the full completion and registration of the HIP-Petrohemija’s legal form change, from the stock company to limited liability company, was required as a precondition for fulfillment the contracted obligations of all the parties involved.

That being done, the parties to the Strategic Partnership Agreement are enabled to smoothly fulfill their contractual obligations what will bring the procedure of HIP-Petrohemija’s privatization to an end.

The amendments to the HIP-Petrohemija’s Foundation Act and to other related documents, which were necessary in order to bring the change of legal form fully valid, were also adopted at this meeting.

After the dissenting shareholders have been paid, what will be completed as soon as possible, HIP-Petrohemija shall have the adopted documents registered with the Business Registers Agency and thereafter it will continue its operation as a limited liability company.