Elektrim announces May 25 shareholders' meeting

Cash-strapped domestic energy and telecom concern Elektrim has called its shareholders' meeting for May 25. The announced date is two months later than had been requested by a group of Elektrim's investors, led by BRE Bank, who wanted the meeting to take place between February 13 and 15. Upon filing the motion for a shareholders' meeting, the investors had announced that a new board would be tasked with changing Elektrim's management and president. A lawyer connected with BRE Bank responded by saying the group of shar eholders may try to bring forward the meeting by filing a court case. The BRE Bank-led group wants to gain representation on the supervisory board and later to reshuffle the company's management following Elektrim's defaulting on euro 480 million worth of dividend paybacks late last year. So far Elektrim has not managed to present a new proposal that would satisfy its creditors. (Puls Biznesu, p. 7; Reuters) P.J.