Annual report 2015

Železiarne Podbrezová a.s. Annual report 2015 The Supervisory Board acquired all the information necessary to supervise the actions of the Board of Directors and the Compa - ny’s business activities by keeping constantly in touch with the Company’s top management. Throughout the year, one member of the Supervisory Board attended daily operational meetings of the Company’s management, and other members of the Su - pervisory Board were present at some of the weekly meetings of the executive management. In the second half-year, the joint meetings of the Board of Directors and the Supervisory Board were regularly organised on a monthly basis. At such meetings, the members of the Supervisory Board were provided with up - dated information on the economic and financial position of the Company and ŽP GROUP companies and on the balance of the Company’s assets, liabilities and receivables. Based on the results of control activities, the Supervisory Board states that, as in previous years, the Company’s business activ - ities in 2015 were performed in accordance with the legal reg - ulations, Articles of Association and the General Meeting’s in - structions. During the examination of the separate and consolidated finan - cial statements for the period ended 31 December 2015, audit - ed by Deloitte Audit s.r.o., the Supervisory Board identified no ir - regularities. Therefore, the Supervisory Board recommends that the General Meeting approve both financial statements. The Supervisory Board examined the Board of Director’s propos - al for the distribution of profit, and the payout of dividends and royalties. The Supervisory Board recommends that the General Meeting approve the Board of Director’s proposal for the pay - out of dividends and royalties from the Retained earnings from previous years, and the proposal for the distribution of the 2015 profit. The Supervisory Board recommends that the General Meeting approve Deloitte Audit s.r.o., SKAu licence No. 014, as auditor of the financial statements for the period starting on 1 January 2016. In Podbrezová, 31 May 2016 Ing. Ján Banas Chairman of the Supervisory Board Report on the Activities of the Supervisory Board in 2015 41