June 26, 2018 / 10:21 AM / 5 months ago

Poland's KGHM adjourns AGM until July 6

LUBIN, Poland (Reuters) - Polish state-run miner KGHM (KGH.WA) on Tuesday adjourned its annual general meeting of shareholders until July 6.

At the meeting, which began on Tuesday before being adjourned, shareholders were expected to vote on the company’s proposal not to pay a dividend for the first time in many years.

Newly appointed Chief Executive Marcin Chludzinski was also supposed to take over at the end of the annual shareholders meeting.

KGHM, one of the world’s biggest copper and silver producers, has not had a CEO since Radoslaw Domagalski-Labedzki was fired on March 10.

Trade unions at KGHM sent a letter to Polish Prime Minister Mateusz Morawiecki this month calling for a quick decision on a replacement in light of KGHM’s production problems at home and abroad.

The state has a 31.79 percent share in KGHM.

Reporting by Wojciech Zurawski; writing by Agnieszka Barteczko; editing by Jason Neely

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