Annual_report_2006

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 39 INFORMATION FOR SHAREHOLDERS The registered capital of the Company was divided into 2 384 135 bearer shares in book- entry form with a nominal value of SKK 1 000 per share. The shares were traded on the open market of the Bratislava Stock Exchange (Burza cenných papierov Bratislava, a.s.). In 2006, 836 exchange rate transactions were concluded, in which 60 080 shares of SKK 114 million were transferred, which com- pared to 2005 represents an increase of SKK 56 million. In terms of the volume of trans- actions on the open market, Železiarne Podbrezová a.s. shares were the second most traded in 2006. The share price ranged between SKK 1 670 and SKK 2 300 during 2006, with the average of SKK 1 897 per share. As at 31 December 2006, the market capitalisation amounted to SKK 4 291 million. In the period from 16 March 2006 through 15 April 2006, ŽP Trade Bohemia, a.s., Prague, made a compulsory bid for the take- over of the shares of the Company. Within this bid, ŽP Trade Bohemia, a.s., Prague, pur- chased 9 300 shares of the Company for SKK 1 631 per share. Based on the decision of the Extraordinary General Meeting, trading with shares on the Bratislava Stock Exchange was discontinued as at 10 May 2007. At the time of the prepa- ration of this Annual Report, the Company is preparing for the change of the nature and form to registered certificate-form shares. Shares trading The Board of Directors of Železiarne Podbrezová a.s. realises that the trust of the current owners create the fundamental con- ditions for the successful operation and further development of business activities. The Board of Directors takes care of increas- ing standards in respect of the company’s governance and management on an on- going basis. The core document in the respective area is the Articles of Association that defines the main principles of the proper management of the Company, as well as the rights and duties of the Company’s bodies. At the same time, the legal requirements applied to the joint stock company’s gover- nance are fully upheld. Although the Company did not acknowledge a voluntary Unified Code of Company Governance and Management based on OECD Principles, recommended by the Bratislava Stock Exchange, there are numer- ous Company governance and manage- ment rules that result from the afore- mentioned code, which were already introduced and further developed. Corporate Governance Share Price on the Stock Exchange in 2006 I II III IV V VI VII VIII IX X XI XII 2 500 SKK 2 000 SKK 1 500 SKK 1 000 SKK 500 SKK 0 SKK