The Supervisory Board of Sava d.d. became acquainted with the report on the business operations of the Sava Group and Sava d.d. in the period January-June 2012 and establishes that the achieved operating result is still greatly affected by the unfavourable circumstances in the capital markets, however, Sava's subsidiaries operate well and in accordance with the commitment given by the Management Board of Sava d.d. on further improvement of operating business of Sava Group companies.
Furthermore, the Supervisory Board of Sava d.d. dealt with the report by the Management Board on the implementation of the Strategy of business-financial restructuring of Sava until 2014.
In this context, the Supervisory Board became minutely acquainted with the activities in connection with the course of arrangements on concluding the envisaged reprogramming with the banks, the activities in connection with the planned sales process for the Rubber Manufacturing division, the course of increasing the capital of Abanka Vipa d.d., and the report by the Management Board on the reorganisation of Sava d.d.
The Supervisory Board establishes that the strategic activities are carried out as scheduled. Also the Supervisory Board in its new composition, which assumed their term of office on 29 June 2012, gave its full support to further implementation of the restructuring strategy of Sava d.d.
Sava d.d.
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