Iber -Lepenci board download required

Economic Development Minister Valdrin Luka has requested the dismissal of the board of directors of Iber Lepenci. The demand for their dismissal is taking place as the board of directors were paying themselves back with money and honourary salaries, even as such a decision was drastically undermining the company's liquidity by creating unfavourable financial situations for the company and the shareholder.

In the ministry's argument, it is said at the meeting of April 10, 2018, the Board of Directors of the Hydroeconomic Company “Iber-Lepenc” U.S. has ruled out, by majority of votes for: share of the reward at 50% of the annual core hotel for members of the Board of Directors for 2017, as well as an additional monthly salary (13th salary) for all employees of the Hydroeconomic Company “Iber-Lepenc” U.S.

“Considering that the Hydroeconomic Company “Iber-Lepenc”S.A. in 2017 it has marked net losses of 4,177,032 Euro [according to the Independent Auditor's report] such a decision seriously undermines the company's liquidity by creating unfavourable financial situations for the company and the shareholder.

The decision No.01-768 of the 10,04.2018 majority out of the Board of Directors of the Hydroeconomic Company “Iber-Lepenc” U.S.A., conflicts with Article 19 paragraph 19.2 and Article 20 paragraph 20.5 of Law No. 03 L-087 for Public Enterprises.”, said further in the ministry's dismissal request.