Annual report 2005 - Sava dd

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a n n u a l r e p o r t | 2 0 0 5 1 8 | The Sava Group sponsors the international conference Manufacturing Visions – Quo Vadis?, in which we collaborate with experts from the European Union to develop the vision and recommendations for the policy of evolving the European manufacturing sector in the decades to come. At the 52 nd catering tourism meeting our associates from Tourism win 14 gold, 28 silver and 12 bronze medals and receive 9 special awards for their co-operation. November The Sava Group receives the 2005 award for educational management – TOP 10 awarded by GV Izobraœevanje and the Sofos Institute to companies that systematically invest in employee education and thus demonstrate a direct link between an educational and a business strategy. In a campaign by the Slovene Tourist Association My Country, Beautiful and Hospitable we obtain numerous acknowledgements: in the category of medium- and small-sized spa resorts Terme Ptuj wins first place ahead of Terme Lendava; the campsite in Bled wins first place in the category of large Slovene campsites; and the campsite in Ptuj wins second place in the category of medium- and large-sized campsites. Terme Ptuj wins second place among large Slovene swimming pools. We start to renew and modernise Hotel Park, the largest accommodation facility in Bled, which is the second largest hotel facility in Slovenia. The companies Terme 3000 d.d, Terme Lendava d.d and Terme Ptuj d.o.o. obtain the quality assurance certificates according to the ISO 9001:2000 standard, whereas the company Radenci d.o.o. is certified for conducting business according to the occupational health and safety system OHSAS 18001. December We decide to take over general sponsorship for Dr. Preæeren’s birth-place home in Vrba; in this way we provide resources for the further development of the museum located in this Slovene cultural monument. In the companies Sava Hotels & Resorts Bled we complete a plan for information system renewal and introduce an on-line booking system, which is one of the first in Slovenia.
4.2 1 9 | | i n t r o d u c t i o n | A review of highlights after the accounting period January The company Gea Sol d.o.o. discontinues its business. Based on R&D work and risk assessment we discontinue planning the production of solar tiles. The vital part of its business – energy consulting – is transferred to the company Energetika Sava d.o.o. February The Supervisory Board of Sava d.d. endorses the submitted plan on restructuring Sava Trade. The plan anticipates that Sava d.d. enters the company Merkur d.d. with a significant ownership stake. Sava d.d. offers to pay in 98,000 newly issued shares as an increase in the share capital of Merkur d.d. at a price of €151.1 per a share. The restructuring plan further includes that Sava d.d. offers Merkur d.d. to purchase the entire ownership stake in Sava Trade d.d. and sell the entire ownership stake of Sava Trade in the company MG Market d.o.o. Through these transactions Sava d.d. obtains a significant stake in the company Merkur d.d., while Merkur d.d. consolidates its business through the operation of the present Sava Trade d.d. The Supervisory Board of Sava d.d. adopts a resolution that Janez Bohoriå is appointed as chairman and Vincenc Peråiå and Emil Vizoviæek as members of the Sava d.d. Board of Management for a new mandate, i.e. from 17 July 2006 until 16 July 2011. The Sava share is listed in the new South-east Europe index, Southeast Trade Index (SETX) formed by the Vienna Stock Exchange. Besides Sava d.d., another 13 companies that are listed on the Ljubljana, Bucharest, Sophia and Zagreb Stock Exchanges are included in the index. March By increasing the share capital in the company Merkur d.d., Sava d.d. implements a significant part of its restructuring plan for Trade and becomes the owner of a 19.6 per cent stake and an important shareholder in this Kranj-based company. By doing so, Sava d.d. will move from the majority-based management of a smaller company Sava Trade d.d. to the active joint management of a larger trading system with significantly better conditions for successful development and profitable operation. This is an important acquisition and opportunity for shareholders of Sava d.d. In order to acquire quality personnel, the companies of Pannonian Spas unite with professional and educational institutions in the region in the promotion of catering and tourism professions. At the same time Pannonian Spas announce 80 new vacancies in a new 5* hotel. Owing to new investments in the companies of Pannonian Spas another 80 new jobs will be available next year. Sava d.d. increases the share capital in Grand Hotel Toplice d.o.o. Bled from €1.3 million to about €2.1million; in the company Savatech d.o.o. from the present €21.1 million to €25.1million, and in the company Sava-GTI d.o.o. from the present €0.26 million to €0.86 million. As part of closing the financial transaction of purchasing shares of Merkur d.d. Sava d.d. sold 4,694,946 shares of the company NFD Holding d.d., which represents 14.17 per cent of its equity. After this sale Sava d.d. does not have any stake in the company NFD Holding d.d.
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Annual report 2005 - Sava dd

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