Elektrim lodges complaint over leak of information

Conglomerate Elektrim has informed the Securities and Stock Exchange Commission (KPWiG) of a suspected offense committed by members of its own supervisory board who disclosed to the press confidential information. The accusation relates to supervisory board meetings during deliberations on a Vivendi bid for Elektrim's telecommunications interests. According to Ewa Bojar, Elektrim's press representative, the leak of information on proceedings at board meetings, and in particular on the details of the offer, affected Elektrim's performance on the stock exchange. Last week chemical group Chemia Polska, a major financial investor in Elektrim, suggested that it would support any initiative to choose a new supervisory board, a position that has now found support from another Elektrim investor, Templeton Emerging Markets Fund. However, no changes can be expected in the near future. Any replacements would have to be approved by an extraordinary general meeting of shareholders, and as Stefan Knopik, investment adviser with BPH brokerage house, told Prawo i Gospodarka, any changes to Elektrim's supervisory and management boards will take place only after the deal with Vivendi is signed. He pointed out, however, that the complaint filed with the KPWiG will be one of the factors underlying the need for personnel changes. (Gazeta Wyborcza, p. 16; Prawo i Gospodarka, p. 10) M.T.K.