MAK-NEWS 04/05/95 (M.I.L.S.)
CONTENTS
[01] TEGOVSKI-CUTILLIERO TALKS
[02] SULEIMANI AND FEIZIU SENTENCED
[03] STATISTICS
[04] GOCE DELCEV TRIBUTE TO BE AWARDED TODAY
[05] INTERNATIONAL ARTS BIENNIAL
[06] CELEBRATIONS OF VICTORY OVER FASCISM JUBILEE
[07] HUMANITARIAN BRIEFS
[08] MILS SPECIAL SUPPLEMENT: FACTS AND FIGURES ON PRIVATIZATION IN MACEDONIA - PART I
[09] SALE OF SHARES OF THE JOINT-STOCK COMPANY "OTEKS" OF OHRID
M I L S N E W S
Skopje, 4 May 1995
[01] TEGOVSKI-CUTILLIERO TALKS
Macedonian ambassador to Belgium Jovan Tegovski met
yesterday with Jose Cutilliero, Secretary General of the
West European Union. They discussed Macedonia's
international position and relations with neighbors,
particularly perspectives for resolving the dispute with
Greece. Tegovski spoke of efforts by Macedonia to become
integrated into all European institutions.
[02] SULEIMANI AND FEIZIU SENTENCED
The District Court in Tetovo yesterday sentenced Fadil
Suleimani (on grounds of inciting to resistance) to 2,5
years of imprisonment, and Milaim Feiziu (on grounds of
participation in crowds) to 6 months in jail. The judge
confirmed the indictment with the relevant decisions of the
Government of the Republic of Macedonia and the Law on
Specialized Education. In a final speech, the Public
Prosecutor said the events caused polarization among the
population on a national basis, as the acts of inciting to
resistance by Suleimani have obstructed Government's
conclusions regarding the university in Tetovo. The defense,
on the other hand, insisted that it is decisions, and not
conclusions by the Government, which can be protected by
law.
The court extended the custody of Fadil Suleimani until the
verdict comes into effect, releasing Feiziu from custody.
Suleimani's defense offered a bail of 50,000 German marks,
but this is to be decided upon by the Criminal Council of
the Court.
[03] STATISTICS
The January 1995 average wage in the Republic of Macedonia
amounted to 8,444 Denars, while the basic living expenses
were calculated at 10,142 Denars. In February, average wages
fell down to 8,351 Denars, but the basic expenses also
decreased to 9,774 Denars. 18.5 per cent (387,677) of the
employed have still not received their February salaries.
The number of unemployed in January (against the 185,906
unemployed in 1994) went up by 6.5 per cent, amounting to
197,968.
The industrial production in February, as compared to the
average production throughout 1994, fell by 17 per cent. Six
industrial branches (mostly electricity and food-producing
companies) have increased their production.
The inflation rate in February went up by 0.2 per cent, and
the living expenses increased by 0.1 per cent.
[04] GOCE DELCEV TRIBUTE TO BE AWARDED TODAY
Winners of the Goce Delcev 1995 Award will be promoted at
the ceremonial hall of the Macedonian Parliament today. The
following are to be awarded this tribute for achievements in
the field of science: professor Dr. Ljiljana Minova
Gjurkova, professor Dr. Vera Petrova, professor Dr. Ljiljana
Ilievska, professor Dr. Trajan Gocevski, professor Dr. Delco
Jovanovski and Dr. Novica Veljanovski.
[05] INTERNATIONAL ARTS BIENNIAL
The second Student International Arts Biennial is to be held
in Skopje, on 6-9 May. The manifestation will be open and
awards will be presented in the evening on May 6. 128
authors of 35 universities in 19 countries are expected to
attend the biennial. An international seminar on the topic
of "The National and International in the Contemporary Art"
will be organized as part of the manifestation.
[06] CELEBRATIONS OF VICTORY OVER FASCISM JUBILEE
Skopje's city committee for celebration of the 50th
anniversary of victory over fascism held a meeting
yesterday, to determine a celebration program. The central
celebration will take place under the Stone Bridge in
Skopje, on May 5, with a show called "Hail to Freedom".
Flowers will be laid at tombs of fallen fighters on May 9
and city mayor Goran Nikolovski will give a cocktail party
for foreign diplomats in the evening. Several sports
manifestations are to take part 9 to 13 May.
On the same occasion, the Macedonian-Russian Friendship
Association, along with the Russian embassy in Skopje, will
organize a public debate on "The Liberation War in Macedonia
and Russia", at 11 a.m. in the Army Center in Skopje.
[07] HUMANITARIAN BRIEFS
After a longer period of being held up at the Greek-
Macedonian border (on grounds of the documents being made
out to the Republic of Macedonia), a humanitarian convoy
from France arrived at the rehabilitation center in Demir
Kapija yesterday. The aid consists of an ambulance, food,
clothing, medicine and linen.
[08] MILS SPECIAL SUPPLEMENT:
FACTS AND FIGURES ON PRIVATIZATION IN MACEDONIA - PART I
Announcement publicized on 15 March 1995
The Privatization Agency of the Republic of
Macedonia announced the sale of ten companies. Six of them are
to be transformed through sale of their indivisible (ideal)
part, whereas the remaining four decided to implement the
management buy-out model.
I. Companies transformed by sale of indivisible parts
Joint-stock company "TETEKS" of Tetovo
Activity..............Production of textile yarn, fabric and ready-made
textile products
Number of employees...............................................5,286
Total revenues (1993) - in millions of Denars...................1.329,6
Gross profit (1993) - in millions of Denars.........................2.2
Initial price of social capital on sale (in DM)............ ....167,495
Total number of shares...........................................53,990
Number of shares on sale......................................... ...92
Portion comprised by shares on sale out of total number
of shares (in percentage).........................................0.17%
Price per share (in DM)...........................................1,815
Join-stock company "SHARPROMET" - Tetovo
Activity..............................................Retail trade with
foodstuff
Number of employees...............................................5,286
Total revenues (in 1993) - in millions of Denars.....................17
Gross profit (in 1993) - in millions of Denars........................0
Initial price of social capital on sale- (in DM)................112,220
Total number of shares..............................................821
Number of shares on sale............................................175
Portion comprised by shares on sale out of total number
of shares (in percentage)........................................21.55%
Price per share (in DM).............................................640
Public enterprise "SKOPSKI LOZAR" - Skopje
Activity.............................................Production of soft
drinks
Number of employees..................................................56
Total revenues (in 1993) - in millions of Denars...................21.1
Gross profit (in 1993) - in millions of Denars........................0
Portion of total capital comprised by indivisible part
(in percentage)...................................................85.0%
Initial price of social capital on sale (in DM).................609,458
Public enterprise "BILKA-PROMET" - Skopje
Activity..........Retail and wholesale trade with foods and other goods
Number of employees..................................................61
Total revenues (in 1993) - in millions of Denars...................13.5
Gross profit (in 1993) - in millions of Denars.....................0.01
Portion of total capital comprised by indivisible part
(in percentage)...................................................85.0%
Initial price of social capital on sale (in DM).................335,879
"ZHITO MAKEDONIJA Ltd." - Skopje
Activity...................Wholesale trade with grain and mill products
Number of employees..................................................40
Total revenues (in 1993) - in millions of Denars..................212.9
Gross profit (in 1993) - in millions of Denars.....................0.70
Portion of total capital comprised by indivisible part
(in percentage)...................................................2.19%
Initial price of social capital on sale (in DM)..................42,549
"INTEKS Ltd." - Skopje
Activity...............................Foreign trade with non-foodstuff
Number of employees..................................................68
Total revenues (in 1993) - in millions of Denars....................1.6
Gross profit (in 1993) - in millions of Denars......................1.6
Portion of total capital comprised by indivisible part
(in percentage)...................................................2.76%
Initial price of social capital on sale (in DM).................264,508
II. Sale of enterprises by a management buy-out method
Joint-stock company "FERSHPED" - Skopje
Activity....................Inland and international freight forwarding
Number of employees.................................................406
Total revenues (1993) - in millions of Denars...................1.647,6
Gross profit (1993) - in millions of Denars........................31.1
Initial price of social capital on sale (in DM) ..............8.114,100
Total number of shares...........................................18,113
Number of shares on sale..........................................6,771
Portion comprised by shares on sale out of total number of
shares (in percentage)...........................................37.38%
Price per share (in DM)...........................................1,200
Joint-stock brewery "Skopje" - Skopje
Activity.............................................Production of beer
Number of employees.................................................453
Total revenues (1993) - in millions of Denars.....................930.7
Gross profit (1993) - in millions of Denars.......................133.2
Initial price of social capital on sale (in DM)..............10.288,560
Total number of shares..........................................138,438
Number of shares on sale.........................................36,408
Portion comprised by shares on sale out of total number of
shares (in percentage)...........................................26.30%
Price per share (in DM).............................................283
"ANGROTEKS Ltd." - Shtip
Activity...................................Wholesale trade with textile
and ready-made clothing
Number of employees..................................................53
Total revenues (1993) - in millions of Denars......................79.8
Gross profit (1993) - in millions of Denars.........................2.1
Initial price of social capital on sale (in DM) ................803,941
Portion comprised by shares on sale out of total number of
shares (in percentage)...........................................50.25%
Joint-stock company "MAKEDONIJA TURIST" - Skopje
Activity...................................Catering business and hotels
Number of employees.................................................432
Total revenues (1993) - in millions of Denars.....................236.4
Gross profit (1993) - in millions of Denars........................39.9
Initial price of social capital on sale (in DM) ..............7.154,551
Total number of shares..........................................207,471
Number of shares on sale.........................................65,638
Portion comprised by shares on sale out of total number of
shares (in percentage)...........................................31.64%
Price per share (in DM).............................................109
[09] SALE OF SHARES OF THE JOINT-STOCK COMPANY "OTEKS" OF OHRID
The joint-stock company "Oteks" of Ohrid, having begun its
transformation under the old laws, entered the process of
ownership transformation with capital structured in such a way
that 82.02 per cent of it is comprised by share capital, while
the remaining 17.92 per cent is social capital.
The board of directors of "Oteks", acting in accordance with
the 1994 decision on transformation, decided to complete the
privatization process by handing over the remaining shares to
the Privatization Agency. In compliance with the law, the
Agency is obliged to put up the shares for sale within 90
days.
Article 95 of the Law on Transformation of Companies With
Social Capital states that, until a proper securities market
has been organized in the Republic of Macedonia, it is the
Privatization Agency which will determine the way and
procedure of the sale of shares, in accordance with specially
brought regulations.
Acting in accordance with its legal obligations and following
the adoption of Sale Regulations, the Agency began with
preparations for organizing a primary securities market.
The joint-stock company "Oteks" was the first enterprise
the shares of which were put up for sale. The Agency
authorized the following ten companies to act as agents at
the market: Komercijalna Banka - Skopje, Tutunska Banka -
Skopje, Makedonska Banka - Skopje, Teteks Banka - Tetovo,
Almako Banka - Skopje, Invest Banka - Skopje, Eksport-Import
Banka - Skopje, and the brokers SMART and REKSKO of Skopje.
Citizens and legal entities are to submit offers to the
authorized agents and the latter will perform the buying on
their behalf.
The Agency also published a presentation prospectus of
"Oteks", including the most significant financial figures
and situation in the company. The prospectus has been
delivered to all interested and potential buyers through the
authorized agents.
The first public sale of shares of "Oteks" was held on 28
March 1995. 17 shares were bought at a price of 60 DM per
share, out of the total number of 81,175 shares offered at
an initial price of 75 DM per share. All 17 shares were
bought by Almako Banka of Skopje.
The shares of "Oteks" put up for sale by the Agency are
ordinary, made out to individuals, transferable with full
endorsement, provide a right to a voice in the managing
board (each share equals to a right to one voice), bring an
annual dividend depending on the sales revenues and, in case
of liquidation or bankruptcy, secure a right to a equal
share in dividing the remaining part of the assets.
The primary securities market is open every Tuesday from 10
a.m., at the Agency's premises.
(to be continued)
(end)
mils-news 4 May '95
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