Dalekovod d.d. — Board/Management Information 2013

Apr 2, 2013

Ulica Marijana Čavića 4, Zagreb Tel:+385 1 24 11 111 Fax:+385 1 61 71 283 e-mail: dalekovod@dalekovod.hr

HRVATSKA AGENCIJA ZA NADZOR

FINANCIJSKIH USLUGA

Heading: A program for the management of excess employees

Zagreb, March 28, 2013 - The Management Board of Dalekovod d.d. submitted a program for the management of excess employees to the Croatian Employment Service on March 28, 2013, after consultations were held with the Croatian Employment Service, Works Council and the union representative. The program provides a plan for 63 excess employees in Dalekovod d.d.

The arrangements were made for reassignment of excess employees to other positions/departments or to other companies within Dalekovod Group in accordance with their education level.

Under the program excess employees with at least two years of continuous employment with Dalekovod are entitled to a severance payment under Work Regulations and provisions of the Collective Agreement with Dalekovod d.d. that equals half of three months average salary paid to employees who are declared excess that preceded the termination of the employment agreement for each completed year of employment.

"We are grateful to all of our employees for years spent at Dalekovod, but this program is part of an unavoidable process that requires changes to be made that will make it possible for Dalekovod to continue sustainable long-term operations in Croatia and abroad. Dalekovod has gone through various development stages since its founding and currently we have to 'revive' the company and make changes that will ensure a stable future", explained Matjaž Gorjup, president of the Management Board of Dalekovod d.d.