Treasury angry at exclusion from Impexmetal meeting

The State Treasury has complained about being excluded from the recent general shareholders' meeting of Poland's largest non-ferrous metals trading company, Impexmetal. According to Agnieszka Dluska from the Treasury press office, representatives were "unjustifiably not admitted to the meeting". The Treasury claims that its non-attendance was extremely costly, with Impexmetal's other major financial backers, investment fund Nomura and investment bank Templeton, taking advantage of the Treasury's absence to vote on a change in the supervisory board. The meeting also approved the company's financial report, and decided to pay a dividend of zl.0.18 per share. The Treasury blames a mistake by the brokers for its failure to attend the meeting. However, according to the brokers, said by unofficial sources quoted by Gazeta Wyborcza to be WBK-BZ, it was the Treasury's own fault, since it delayed the registration of depositary certificates in the company. (Gazeta Wyborcza, p. 21) P.W.