Compulsory Settlement Procedure Confirmed
Kranj, 31 August 2006: Today, at Kranj District Court, the creditors have confirmed with almost 80% majority the financial reorganisation plan of the Iskraemeco, d.d. company proposed by the company's management.
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Iskraemeco d.d. and CLPP Customer have signed new 4-year contracts
Iskraemeco d.d. and CLPP Customer in Hong Kong have signed new 4-year contracts for supply of household meters.
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Press release
After decades of successful business operations, Iskraemeco first recorded, in 2001, a negative cash flow caused by the drop in sales prices. The reason for the loss which occurred in 2004, lied in higher purchase prices of strategic materials. The loss in 2005 was even higher on account of the measures adopted for the company restructuring, and it amounts to almost 3.3 billion SIT. The loss arose under the heading of the company restructuring and comprises indemnities, investment write-offs and revaluation receivables. The analysis of the efficacy of programmes revealed positive trends in the electronics programme and negative trends in the electromechanical meters programme.
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The financial reorganisation plan
The company Iskraemeco, merjenje in upravljanje energije, d.d., Kranj, Savska loka 4, is a debtor in the compulsory settlement procedure, which started on 20 February 2006. In the financial reorganisation plan the debtor plans to specify the proposed percentage and deadline for the repayment of claims pursuant to the law for all classes of creditors affected by the compulsory settlement.
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Invitation for expression of interest
Iskraemeco, d.d., Savska loka 4, Kranj intends to issue, during the compulsory settlement procedure effective from 20 February 2006, maximum 100,000 new shares. The company is looking for potential investors interested in purchasing the whole package of shares, who would be willing to finance current business operations at the level of SIT 2,500,000,000 minimum and to convert their loans into shares when compulsory settlement reaches the authority of a final decision.
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One million electricity meters certified in compliance with the European EEC directive
The millionth electricity meter was certified in compliance with the European directive at the beginning of March. When Slovenia entered the European Union on 1 May 2004, it was given the right to perform the first certification in compliance with the EEC directive (82/621/EEC). We immediately took that opportunity, and have already saved half a million euros or more than five million tolars a month.
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7th General Meeting of shareholders of the company Iskraemeco, Management and Consultancy (DUS)
Kranj, 17. 8. 2005: Today the 7th General Meeting of the company Iskraemeco, DUS, d.d. was convened at 12:00 and all proposed resolutions were adopted.
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A new managing board for Iskraemeco
Kranj, 18.7.2005: Today the supervisory board of the Iskraemeco joint-stock company appointed a four-member management board for a mandate of five years. It comprises all the members of the temporary board.
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Awards granted for "BEST INNOVATION Gorenjska 2004"
On behalf of the Iskraemeco company the golden award and recognition for the innovation "Automatic meter reading system for household electricity meters" was handed over to Karl Rozman, the President of the Management Board. The golden award for innovation was also granted to the company’s innovators Milan Kozole, Ale? Petri?i? and Nenad Me?eral.
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HP, Iskraemeco and HERMES SoftLab have joined their forces to deliver standards-based AMR Management Solution for Utility Operators
Ljubljana Slovenia and Vienna Austria, 6th of May 2005 - Shift from the stand-alone metering devices and manual meter reading to Automated Meter Reading (AMR) systems is a major undertaking for Utility Operators. HP, Iskraemeco and HERMES SoftLab have combined their expertise in the metering, network & systems management and software development domains to help Utility Operators to successfully deploy and operate large-scale networks of e-metering devices and ensure smooth Automated Meter Reading process.
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Iskraemeco has a new Chairman of the Board of Direcotrs
The Supervisory Board of Iskraemeco accepted the resignations of Chairman of the Managing Board, Mr Slavko Vidic, and Mr Aleksander Igli?ar.
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Iskraemeco signed the cooperation agreement on intelligent electricity measurement options via GSM network with the Finnish company TeliaSonera Finland.
Iskraemeco signed the cooperation agreement on intelligent electricity measurement options via GSM network with the Finnish company TeliaSonera Finland on October 7. The agreement anticipates a long-term cooperation in the development and supply of remote measurement systems. This agreement is a new important milestone for Iskraemeco in offering the whole system solutions and an impressive example of exporting Slovene high-tech to one of the most developed markets.
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Iskraemeco signs the contract with Vattenfall, the Swedish energy company
Today, Iskraemeco signed a contract for delivery of the complete system for remote meter reading. The system will cover 150,000 household consumers of electric energy. It involves delivery of the equipment, its installation, start-up and servicing. The project value exceeds 30 million euros, and is thus an impressive example of exporting Slovene high-tech to one of the most developed markets. The project that Iskraemeco obtained in competition with all leading bidders of such equipment is an important milestone while implementing Iskraemeco’s transition to offer the whole system solutions.
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