Ownership Structure
Dalekovod is a joint stock company that is completely a private company. The company’s share capital amounts to 229,381,200.00 HRK and is divided into 2,293,812 regular shares series xAlf with a nominal value of 100 HRK per share.
Two Employees Stock Ownership Plans have been implemented so far at Dalekovod - ESOP 2000 and ESOP 2001 in the year 2000 with 53 % employees and in 2001 with 37% employees, in such a way that total of 37% inital capital of the Company was sold to the employees. The effects of sucessfull implementation of the ESOP programme are also visible in excellent business indicators, to which motivation of all employees of Dalekovod d.d. has contributed significantly.
Employee shareholding is one of the most interesting phenomenon of corporate management in the last twenty years. Expansion of the ESOP program throughout the world points to the importance of a company stakeholder approach whereby influential interest groups influence the way a corporation is led and managed. ESOP (Employee Stock Ownership Plan) is an employee shareholding plan, formally founded in the USA (the 1974 ERISA act), while experiencing a real expansion from the mid 1980s.
The original ESOP architect was Louis Kelso who formed the initial ESOP concept. ESOP is, based on the American definition, a particular plan or more precisely, a tax qualified plan (with tax incentives) in favor of the employee, aimed at gathering resources used exclusively for acquiring company shares whereby the employees were not able to gain credit for purchasing shares because they didn’t possess assets and thereby guaranteeing repayment. Although ESOP is an American method of organizing employee co-ownership of a company, its use has expanded across the whole the world in various forms.
Today the ESOP programs are all programs that gather funds exclusively to be used for employee acquisition of existing or newly-issued company shares, regardless of type, form (leverage or non-leverage) or manner of undertaking. ESOP can therefore, be defined also as an specific contribution plan for acquiring ownership or particular benefits for employees. The goals of such ESOPs relate to increasing employee ownership, increasing income, work motivation within the company and increasing social security by continuing investments in pension funds.
Dalekovod has successfully implemented two such projects – in 2000 with 53 percent of the employees and in 2001 with 37 percent of the employees, with a total of 37 percent of the company share capital sold to workers. The effects of successful implemented ESOP program are evident in excellent business results, with an important factor being the motivation of all Dalekovod employees.
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28.12% - Persons (individually no more than 0.8%) |
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18,19% - BMK i Partneri d.o.o. |
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17,89% - KLT i Partneri d.o.o. |
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15,64% - CTG d.o.o. Zagreb |
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16.31% - Custodian banks |
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0.80% - Financial Institutions |
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0.44% - Account portfolios (registration of ownership shares currently in progress) |
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1.10% - Dalekovod Treasury |
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0,30% - Gradnja d.d. Osijek |
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0,24% - Foreign persons |
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0,40% - Other companies |