ANNUAL REPORT - HSE

the Articles of Incorporation, the Supervisory Board
has the following powers:
• it supervises the management of the company,
• it examines the structure of the annual report and the
proposal for the allocation of accumulated profit,
• it prepares a report on the results of the examination
of the annual report for the founder,
• it confirms the annual report or makes comments
thereon,
• it gives an opinion on the business policy bases and
development plan of the company,
• it approves the business plan of the company,
• it proposes to the founder the decisions falling within
its area of competence or gives opinions on the
proposals made by the management in connection
with the decisions to be accepted by the founder,
• it appoints or removes the management,
• it concludes employment contracts with the management,
• it authorises the management to take decisions at
the general meetings of subsidiaries when there are
changes in the status or equity structure,
• it adopts the Rules governing the work of the Supervisory
Board,
• it may request reports on other matters,
• it issues preliminary approvals for legal transactions
such as acquiring, disposing of and pledging
the shares and interests in subsidiaries, establishing
or winding up other companies, branch offices
and plants, acquiring, exchanging or pledging
the property owned by the company, and any legal
transactions exceeding 10% of the company’s nominal
capital other than electricity trading transactions
executed via trading portals and commodity
exchanges.
The Supervisory Board appointed an audit committee
to ensure even greater transparency of the company’s
and the Group’s operations.
The company is run and represented by the management,
which is comprised of two members – managing
directors. Managing directors are appointed by
the Supervisory Board. After the expiry of their term
of office, managing directors can be re-appointed. In
accordance with provisions of the Articles of Incorporation,
the management represents and runs the
company on its own responsibility in line with the
goals, strategy and guidelines. The division of responsibilities
for individual business fields between
management members, the management’s activities,
competences and work and decision-making methods
are determined in accordance with the rules governing
the work of the management as adopted by the
Supervisory Board.
As regards the financial reporting procedure, the company's
internal control and risk management system
focuses in particular on the following:
• identification of important business events which directly
and significantly affect the financial reporting
process;
• accounting categories, individual accounts and related
processes;
• updating of records concerned with the performance
of business processes;
• evaluation of results and elimination of weaknesses
in the planned and existing internal controls.
The company Holding Slovenske elektrarne d.o.o. follows
no particular code in its operation.
Viljem Pozeb, M.Sc. Jože Zagožen, Ph.D.
Managing Director of HSE Managing Director of HSE
Ljubljana, 31/03/2009
The Supervisory Board may also carry out other tasks
laid down in regulations, the company’s governing
documents and the founder’s decisions.
ANNUAL REPORT HSE | BUSINESS REPORT
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