Prague / CZ. (afg) The Boards of the companies Agrofert and SynBiol were this week informed by their existing sole shareholder Andrej Babiš on the fact that all shares of the companies were transferred into two Trusts in compliance with the amendment to the conflict of interest law.
90 percent of the shares of the company Agrofert and 100 percent of the shares of the company SynBiol were transferred into the «AB private trust I, trust fund», while Zbynek Pruša was appointed as the Trustee. The remaining 10 percent of the shares of the company Agrofert were transferred into the «AB private trust II, trust fund» and Alexej Bílek was appointed as its Trustee. The system of two Trusts was chosen as a security and control system because the both Trustees will have to agree on a common approach when solving certain matters. Each of these Trusts will be supervised by the control body, the three-person Board of Protectors consisting of Alexej Bílek, Václav Knotek and Monika Babišová in case of the first Trust and of Zbynek Pruša, Václav Knotek and Monika Babišová in case of the second Trust.
«I would like to ensure the employees that nothing will be changed in terms of the management of the Agrofert and SynBiol group. Agrofert and SynBiol shall continue to be managed by the board of companies», says Josef Mráz, Executive Director of the company Agrofert.
The shareholder Andrej Babiš resigned his posts of Chairman and Managing Director of the company Agrofert and the Chairman of the Board of the company SynBiol in January 2014. Since then, he was not involved and he will no longer be involved in the management of the companies. In case that Andrej Babiš ceases his work of a public official in the future, the shares of the companies will be released to him.
The Boards of the companies are convinced that part of the amendment to the conflict of interest law is contrary to the European legislation and therefore one of the Agrofert daughter companies lodged a complaint with the European Commission regarding the infringement of the European Union law by a member state. «It is about the principle. We inform in advance, that we will not require any financial compensation from the state», concludes Josef Mráz.
