Kredyt Bank voice stifled at BOS shareholders meeting

Despite owning a 19.8% stake in Bank Ochrony Srodowiska (BOS), Kredyt Bank (KB) did not manage to put its representatives on BOS supervisory board at yesterday's shareholders meeting. The meeting was a continuation of a June 26 meeting, which was broken off by KB opponents and which KB protested to a court. Jerzy Majcher, president of the Turow power plant, was chosen to chair the meeting. His first motion was to postpone the meeting until Aug. 28. "[The chairman's] rationale [for postponing the meeting] is babble and nonsense," KB representative Mariusz Kniaz said. However, the motion to postpone the meeting was voted through. "KB will protest this motion. I don' t know if a company which blocks its minority shareholders should still be listed on the stock exchange," said Kniaz afterwards. Securities and Exchange Commission (KPWiG) head Jacek Socha said he would act as a prosecutor in a civil lawsuit against BOS, charging it with breaking the rights of minority shareholders. (Rzeczpospolita, page B1, Gazeta Wyborcza, page 16) T.J.