annual report 2004 - Severočeské doly a.s.

More documents

Recommendations

Info

68 —— 69 Cash and In-kind Income Information about all pecuniary income and income in kind received in the accounting period by executives and members of the Supervisory Board from the issuer and from persons controlled by the issuer: Board of Directors In 2004, members of the Board of Directors received CZK 3,240,000 in fees; bonuses from the distribution of the profit from 2003 amounted to CZK 6,715,000. Supervisory Board In 2004, members of the Supervisory Board received CZK 1,530,000 in fees; bonuses from the distribution of the profit from 2003 amounted to CZK 2,079,000; income in kind amounted to CZK 118,000. Executives In 2004, the company’s executives received base pay totalling CZK 17,354,000; bonuses tied to the company’s results came to CZK 21,119,000 and other pecuniary income and income in kind totalled CZK 910,000. Remuneration for positions in the bodies of controlled companies came to CZK 1,131,000; bonuses from the distribution of the 2003 profit amounted to CZK 92,000. Principles of Remuneration The remuneration of members of the Board of Directors and Supervisory Board is governed by the principles approved by the company’s General Meeting on 28 June 2002. Members are due monthly remuneration in the scope approved by the Board of Directors. The company’s General Meeting may also award bonuses for the financial results achieved by the company. The total volume of resources available for fees and bonuses is subject to approval by the company’s General Meeting. The company may also provide resources and equipment, in accordance with approved principles, that are required for a particular position, i.e. use of an office, communication technology, a company car. The terms and conditions applicable to the use of such resources and equipment are governed by general regulations and by internal management documents. Members of the Board of Directors and Supervisory Board are insured to cover liability of the members of company bodies for damage caused. The remuneration of executives is governed by principles approved by the company’s Board of Directors. Under these principles, a base pay is set, plus the amount of quarterly and annual bonuses. Bonuses are tied to financial results (profit) and the fulfilment of other tasks connected with the holding of a position. Communication technology and company cars may be assigned for particular positions. Other matters are governed by the collective agreement. Information on Securities The number of shares issued by the company which are owned by members of statutory bodies, other executives of the issuer, and members of the Supervisory Board, including the next of kin of these persons, is immaterial and these persons did not engage in trading in such securities during 2004. Options and similar agreements where the underlying assets are participating securities in favour of these persons have not been concluded.
Events Forecast in 2005 — May 2005 – a meeting is planned by the Ústecko Region autonomous governing body to discuss territorial ecological limits (as part of the procedure to approve the region’s land-use plan and energy policy) — update of the long-term purchase agreement with ČEZ — ČEZ decision on the scope of reconstruction of CHP plants, including a schedule for the shutdown of the facilities to be reconstructed and renovated — implementation of further modules of the new SAP information system Doly Bílina — April to May 2005 – extensive reconstruction of the conveyor belt facilities of the fifth section, with a reduction in the level and the relaying of the belt conveyors — April to June 2005 – partial general overhaul and reconstruction of the electrics and electronics of the spreader ZPD 8000/Z98 — July 2005 – completion of the general overhaul of the K 2000/K101 large-scale excavator — August 2005 – launch of the general overhaul of the KU 800/K99 large-scale excavator — December 2005 – completion of a significant ecological project: transfer of water discharge and treatment from the Ledvice pumping station to the main pumping station (termination of the discharge of water to Ledvice Stream) Doly Nástup Tušimice — completion of the assembly of the second ‘heavy’ SchRs 1320 excavator (August 2005), transfer to the point of use; launch of trial and then permanent operation in the final quarter of 2005 — completion of the modernization of the mine water treatment plant in Březno — first stage of modernization and general overhaul of ÚDUT II — completion of the optimization of the organizational structure – the merger of operating sections at the overburden operation and quarry operation (abandonment of the Málkov and Zásada complex) — reduction in the excavation of overburden by reducing the shift system at the first overburden bench by one shift as of 1 July 2005 in accordance with the expected decline in coal mining due to the planned general overhaul of ETU II between 2007 and 2010 — the advance of the overburden and coal sections and spoil bank will reach the area of the deep coal seam (the ‘Kralupy Fault’ area) and there is a risk that the overburden, coal, and spoil banks will slide even if adopted measures and subsequently adopted extraordinary measures are respected and implemented
Page 1 and 2:
SEVEROČESKÉ DOLY a.s. — annual
Page 3 and 4:
Severočeské doly a.s. is the larg
Page 5 and 6:
RAM The operating part of a heavy t
Page 7 and 8:
CONCERTINA The protective concertin
Page 9 and 10:
Most Important Events of 2004 Janua
Page 12 and 13:
10 —— 11 Interview with the Cha
Page 14 and 15:
12 —— 13 Directors and Officers
Page 16 and 17:
14 —— 15 Jaroslav Volšický (*
Page 18 and 19:
16 —— 17 Executive Management T
Page 20 and 21: 18 —— 19 Company Profile Severo
Page 22 and 23: 20 —— 21 Report of the Board of
Page 24 and 25: 22 —— 23 Sales and Marketing Sa
Page 26 and 27: 24 —— 25 Product structure (%)
Page 28 and 29: 26 —— 27 Developments in coal e
Page 30 and 31: 28 —— 29 Developments in invest
Page 32 and 33: 30 —— 31 How Investments are Fi
Page 34 and 35: 32 —— 33 Employee education str
Page 36 and 37: 34 —— 35 municipalities and oth
Page 38 and 39: 36 —— 37 tion plants based on t
Page 40 and 41: 38 —— 39 on the innovation of t
Page 42 and 43: 40 —— 41 Financial Performance
Page 44 and 45: 42 —— 43 sumption of materials
Page 46 and 47: 44 —— 45 Shares and Shareholder
Page 48 and 49: 46 —— 47 Right to a Dividend 1.
Page 50 and 51: 48 —— 49 Strategy and Outlook f
Page 52 and 53: 50 —— 51 Outlook for 2005 Terri
Page 54 and 55: 52 —— 53 Report of Independent
Page 56 and 57: 54 —— 55 Consolidated Statement
Page 58 and 59: 56 —— 57 Notes to Consolidated
Page 60 and 61: 58 —— 59 Held-to-maturity inves
Page 62 and 63: 60 —— 61 Segments The Group has
Page 64 and 65: 62 —— 63 6. Investments in Asso
Page 66 and 67: 64 —— 65 Deferred Taxes, Net At
Page 68 and 69: 66 —— 67 The effect on retained
Page 72 and 73: 70 —— 71 Organizational Chart G
Page 74 and 75: 72 —— 73 Shareholder Financial
Page 76 and 77: 74 —— 75 Persons Responsible fo
Page 78: Consulting and production: © B.I.G
show all

annual report 2004 - Severočeské doly a.s.

Create successful ePaper yourself

Delete template?

Save as template?