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Lek Management Proposes No Dividends This Year

Slovenia's second largest pharmaceuticals maker Lek created SIT 12.4 billion of sales in the first quarter, meeting exactly 25 percent of its annual plan. Based on the assessment that negative macroeconomic conditions will make it impossible for the company to meet the plan in full, Lek's new management headed by ex-Economics Minister Metod Dragonja announced it would propose at the general meeting in early July that dividends for 1998 should not be paid. The supervisory board agreed with the management's proposal.

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© STA, 1999