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<p align="center"><font face="Arial" size="2" color="#000080"><b><br> |
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PLIVA d.d. General Assembly Held Today</b></font></p> |
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<p align="justify"><font face="Arial" size="2" color="#000080">Zagreb, 8 June |
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2000 - the General Assembly of PLIVA d.d. shareholders was held today. The |
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PLIVA Management Board presented Company's 1999 operations and position, |
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while the Supervisory Board gave a presentation on their monitoring of the |
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Company's management of affairs.</font></p> |
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<p align="justify"><font face="Arial" size="2" color="#000080">PLIVA's strong expansion |
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persisted throughout 1999. Compared with 1998, revenues rose by 16.9 % to |
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HRK 4,180.5 m., of which 65.5 % were recorded on international markets. |
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Earnings before interest and taxes (EBIT) recorded a 27.3% growth to HRK |
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1,079.4 m., and the Company's net profit reached HRK 869 m. Profit per |
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share was up 27.8% to HRK 44.17.<br> |
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PLIVA furthered its internationalization with the acquisitions of three |
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pharmaceutical companies: FARMACOM, MIXIS Genetics and LACHEMA, thereby |
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reinforcing PLIVA's position in its target markets. The year 1999 was also |
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marked by strong investments and a 46.5 percent growth in R&D |
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spending.</font></p> |
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<p align="justify"><font face="Arial" size="2" color="#000080">The following distribution |
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of 1999 net income (HRK 838.5 m.) was proposed in the General Assembly |
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agenda:</font></p> |
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<ul> |
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<li> |
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<p align="justify"><font face="Arial" size="2" color="#000080">HRK 2.3 m. to legal |
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reserves,</font></li> |
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<li> |
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<p align="justify"><font face="Arial" size="2" color="#000080">a declared dividend of |
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HRK 10.00 per share to be paid out to all shareholders registered with |
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the Central Depository Agency on the decision date (to be paid out |
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before 31 December 2000). The HRK 10.00 dividend per share represents |
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a 36.1% increase over last year's dividend.</font></li> |
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<li> |
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<p align="justify"><font face="Arial" size="2" color="#000080">the remainder of the |
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income to be transferred to retained earnings.</font></li> |
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</ul> |
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<p align="justify"><font face="Arial" size="2" color="#000080">Commenting on the 1999 |
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business results, Mr. Zeljko Covic, President of PLIVA's Management Board, |
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said: "PLIVA has retained its position as the leading CEE and largest |
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Croatian pharmaceutical company. The cornerstone of PLIVA's business |
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orientation, as well as its future, resides in its business policy of |
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continuous global market growth and development, the strategic focus on |
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pharmaceuticals, an increase in share capital value, consistent |
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investments in state-of-the-art technology and new product research & |
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development".</font></p> |
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<p><font face="Arial" size="2" color="#000080"><i>PLIVA d.d. Management |
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Board members are:</i><b><br> |
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</b><br> |
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<b>Zeljko Covic</b>, MSc, President & CEO<br> |
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<b>Erika Kaspar</b>, MSc, Vice-President & Director of Corporate |
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Affairs and<br> |
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Communications<br> |
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<b>Radan Spaventi</b>, MD, PhD, Vice-President & CSO<br> |
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<b>Dubravko Mak</b>, Vice-President & COO<br> |
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<b>Zeljko Peric</b>, Vice-President & CFO<br> |
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<br> |
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<br> |
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<i>PLIVA d.d. Supervisory Board members are:</i><b><br> |
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</b><br> |
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<b>Massimo Armanini</b>, MBA, President of the Supervisory Board, |
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EUROPORTAL ITALIA S.p.A., Member of GRUPPO FININVEST<br> |
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<b>Branko Jeren</b>, PhD, Vice-President of the Supervisory Board, |
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University of Zagreb<br> |
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<b>Zdenko Adrovic</b>, Raiffeisenbank Austria d.d.<br> |
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<b>David Bloom</b>, PhD, David Bloom and Associates<br> |
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<b>Ettore dell'Isola</b>, PhD, MBA, European Vinyls Corporation<br> |
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<b>Lindsay M. Forbes</b>, MBA, EBRD<br> |
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<b>Franjo Lukovic</b>, Zagrebacka Banka d.d.<br> |
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<b>Ivan Mijatovic</b>, Ministry of Finance, Croatia<br> |
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<b>Mr. Martin Pastuovic</b>, PLIVA d.d.</font></p> |
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<p align="center"><font face="Arial" size="2" color="#000080"><b>PLIVA |
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d.d. OWNERSHIP STRUCTURE<br> |
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as at 8 June 2000<br> |
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<br> |
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<br> |
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<img border="0" src="../images/SkupstinaChart.gif" width="400" height="345"></b></font></p> |
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<p align="left"><font face="Arial" size="2" color="#000080"><br> |
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For further information, please contact:</font></p> |
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<table border="0" cellpadding="0" cellspacing="0" width="100%"> |
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<tr> |
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<td width="50%" valign="top" align="left"><font face="Arial" size="2" color="#000080"><b>Ms. |
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Dijana Kobas</b><br> |
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Corporate Communications<br> |
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Phone: 01 / 61 20 852<br> |
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Fax: 01 / 61 60 358<br> |
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e-mail: <a href="mailto:Dijana.Kobas@pliva.hr">Dijana.Kobas@pliva.hr<br> |
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</a></font></td> |
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</tr> |
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</table> |
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<p align="center"><font face="Arial" size="2" color="#000080"><b>PLIVA's Vision:<br> |
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<br> |
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To be a pharmaceutical company bringing superior and innovative |
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solutions to customer needs, by competing in the global market. |
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</b></font></p> |