Annual_report_2006

REPORT BY THE BOARD OF DIRECTORS Ž E L E Z I A R N E P O D B R E Z O V Á 2 0 0 6 A N N U A L R E P O R T 27 Consequently, the Company discontinued trading its shares on the Bratislava Stock Exchange (Burza cenných papierov Bratislava, a.s.). In connection with this deci- sion, the Company announced a mandatory offer for take-over, and effective from 9 May 2007, the trading with shares of Železiarne Podbrezová a.s. was discontinued on the Bratislava Stock Exchange. The shares in the book-entry form registered with the Central Securities Depository of the SR (Centrálny depozitár cenných papierov SR, a.s.) will be dissolved and shareholders will be called to take over the registered certificate-form shares. As of 20 February 2007, a 100% subsidiary ŽP Informatika s.r.o. was established, with the registered capital of SKK 12 000 thousand; this entity will provide IT services to the Group companies. Those employees of the former IT Department who in 2006 passed over to subsidiary GAMO a.s. became employees of ŽP Informatika s.r.o., effective from 1 March 2007. In March 2007, Železiarne Podbrezová a.s. sold its 51% ownership interest in GAMO a.s. at cost of SKK 13 056 thousand to the original owners for SKK 13 464 thousand. SIGNIFICANT EVENTS THAT OCCURRED AFTER THE CLOSING DATE In rivers, the water that you touch is the last of what has passed and the first of that which comes; so with present time. Leonardo da Vinci At the Extraordinary General Meeting held on 19 March 2007, the share- holders decided on the change in the nature and form of all shares from ‘bearer in book-entry form’ to the registered certificate-form shares.