Podgorica, (MINA-BUSINESS) – The Government has proposed representatives of state capital for the Board of Directors of the Hotel Group (HG) Budvanska Rivijera.

“Based on the obtained consents of the majority of Cabinet members, the Government proposed to the shareholders to appoint Mijomir Pejovic, Luka Vukalovic, and Tamara Lijesevic as members of the Board of Directors of Budvanska Rivijera, as representatives of state capital,” the Government stated in a press release.

The Government appointed Nikola Ilic, an independent advisor in the Directorate for Investment Monitoring and Promotion in Tourism at the Ministry of Tourism, as the proxy, i.e., representative of state capital at the shareholders’ meeting of Budvanska rivijera.

The Government reminded that the repeated regular shareholders’ meeting of Budvanska Rivijera would be held on Monday.

The Government holds a 41.64 percent stake in Budvanska Rivijera, MKG Properties 26.18 percent, the Pension and Disability Insurance Fund 12.82 percent, Tandexon Limited 7.4 percent, and the Employment Office 4.27 percent. Other shareholders hold less than one percent of the share capital.