SUPERVISORY BOARD <strong>REPORT</strong>Supervisory Board President Prof. Hasan Muratović, PhD16 <strong>ANNUAL</strong> <strong>REPORT</strong> <strong>06</strong> SUPERVISORY BOARD <strong>REPORT</strong>
Supervisory Board of <strong>Bosnalijek</strong> d.d. consists of five members: Hasan Muratović, President of Supervisory Board,and the following members: Rifat Klopić, Ljunora Mavrić, Abdul-Umid Šalaka and Midhat Vehabović. SupervisoryBoard members were selected by Shareholders Assembly on 12th June 2004, to a four-year mandate.<strong>Bosnalijek</strong> d.d. Supervisory Board is an independent organ of managementin Company management structure, acting in accordance with CompanyCharter, decisions of Company Assembly and laws of Bosnia andHerzegovina and Federation of Bosnia and Herzegovina, as well as in thebest interest of the Company shareholders. In accordance with that,Supervisory Board monitored in 20<strong>06</strong> the work of Management andbusiness operations of <strong>Bosnalijek</strong>, and paid a special attention to problemsof realising the business goals in accordance with plans for businessoperations.In the period between two Company Assemblies, at which annual report onbusiness is considered, the Supervisory Board held five sessions, at whichissues of importance for functioning and business operations of theCompany were considered, and adopted 12 decisions, by which, within thecompetence of Supervisory Board, matters of significance for realising thefunction of supervising the Company business operations were organised,implementation of Assembly decisions and preparation of draft decisions toCompany Assembly.Within supervising the company business operations, Supervisory Boardhas also considered and adopted Report of Management on Companybusiness operations for period January – June 20<strong>06</strong>, and on session held onMarch 29, 2007, Supervisory Board adopted Management Report onCompany Business Operations by annual calculation for year 20<strong>06</strong> withstatement of accounts and income statement, as well as auditor's report.A<strong>dd</strong>itionally, in the scope of its competence, at session held on May 29,2007, Supervisory Board accepted proposal of the Company Managementfor allocation and method of usage of income realised in year 20<strong>06</strong>,proposal on allocation of a part of income realised in 2005 into Companyreserves fund, as well as draft Business Plan for 2007, which shall besubmitted to the Company Assembly, in a<strong>dd</strong>ition to Annual Report onCompany business operations for year 20<strong>06</strong> with reports of auditors,Supervisory Board and Auditing Board.In performing its jobs and duties, Supervisory Board has cooperated withCompany Management in accordance with Company Charter and law, withtotal disposal of information and details on all the issues of <strong>Bosnalijek</strong>business operations, which were explained a<strong>dd</strong>itionally by the members ofManagement as necessary. That enabled, besides direct communicationthroughout the year between the Management and Supervisory Board, itsmembers a complete and unobstructed supervision over <strong>Bosnalijek</strong> businessoperations.On the basis of continuous supervision of Company business operations andthe mentioned reports of Management on Company business operations,the Supervisory Board concludes that Company business operations in year20<strong>06</strong> were in accordance with decisions of Company Assembly, CompanyCharter, laws and other regulationsSupervisory Board PresidentProf. Hasan Muratović, PhDSarajevo, May 29, 2007serving Your health SUPERVISORY BOARD <strong>REPORT</strong> <strong>ANNUAL</strong> <strong>REPORT</strong> <strong>06</strong> 17
Change language