The PanSlovenian Shareholders’ Association (VZMD) was established in 2005 with a wish for an efficient protection of rights and assets of minority shareholders, particularly due to the fact that majority shareholders in joint-stock companies have often made decisions to the detriment of minority shareholders. The mission of the VZMD is to influence the relevant legislation, pursue the development in the share market and in the area of the joint-stock company management. VZMD carefully follows shareholders’ meetings of joint –stock companies with a high number of minority shareholders. So far – and in compliance with the interests of minority shareholders – we have actively engaged in hundreds of decision-making cases and procedures in individual shareholders’ meetings, in potential damages, take-over activities, squeeze-outs , increases in capital etc.

Ever since 2006 we have been developing the procedures and continually upgrading the standards for the organised gathering of power of attorneys for shareholders’ meetings. We have always managed to achieve the highest professional, quality, response and efficiency standards, due to which a growing number of joint-stock companies entrusted us with the performance of collecting power of attorneys and providing information. At VZMD, we are pleased that this year Sava d.d. has made such a decision too, especially given the fact that Sava d.d. is an outstandingly renowned and one of the most important corporate entities in the Republic of Slovenia with 90 years of tradition and more than 15,800 shareholders.

The agreement about a joint realisation of the organised collection of shareholders’ power of attorneys, which was made between Sava d.d. and VZMD, will enable shareholders a competent representation in the shareholders’ meeting and an efficient implementation of your interests also in the case of any proposals that would differ or oppose to the proposals given by the board of management or the supervisory board of the company. You can choose a proxy proposed by the board of management of Sava d.d., or a proxy proposed by VZMD. By providing such a set of proxies we wish to enable you that in absence of your personal attendance in the shareholders’ meeting you can exercise your right for voting through a proxy, who enjoys the highest degree of your trust.

We are therefore inviting you to support the implementation of the business policy of the company Sava either through your active participation in the shareholders’ meeting, or through an enclosed power of attorney. Each vote that represents one share counts. Please send the completed and signed power of attorney in the enclosed pre-paid envelope (at the address Sava d.d., KC Strateške finance, Škofjeloška cesta 6, 3000 Kranj, Slovenia) – UNTIL Wednesday, 9 June 2010, AT THE LATEST.

Sava, d.d.
Corporate Communications