Accepted price of 534.21 kuna per share

The offer from W2005/Dvadeset osam d.o.o. for the acquisition of shares of the Pula-based Arenaturist, published at the beginning of this week, is in accordance with legal provisions, and the offered price of 534.21 kuna per share is deemed appropriate, according to the opinion of the Supervisory Board of Arenaturist published in today’s daily press and via the Zagreb Stock Exchange.

The opinion also states that the Supervisory Board is fully aware of the content of the public offer from W2005/Dvadeset osam d.o.o. for the acquisition of shares of Arenaturist at the specified price. The Supervisory Board also believes that the implementation of the plans set for Arenaturist mentioned in the takeover offer will have a positive developmental effect and improve the market position of this Pula hotel company. The public offer for the acquisition of shares of Arenaturist by W2005/Dvadeset osam, which operates from its headquarters in Zagreb as part of the American Goldman Sachs Group, was announced on October 1, after the offer was approved by the Croatian Financial Services Supervisory Agency (HANFA).

The offer stated that W2005/Dvadeset osam already holds 1,407,742 ordinary shares of Arenaturist, which constitute 64.5 percent of the share capital of this Pula company. According to the stated Business Plan, W2005/Dvadeset osam anticipates continuous investments to make Arenaturist’s offerings more attractive to a wider range of domestic and European clientele, thereby increasing the number of visitors to the company’s facilities and generally to the area of Pula. W2005/Dvadeset osam acquired the share package of Arenaturist on July 27 of this year by concluding several contracts for the transfer of shares with the previous owners – Luxembourg companies Granito SA and Tacana SA, as well as the Italian company Piovesana Holding and Eugenio Piovesan. A special agreement for the transfer of shares was also concluded with the Luxembourg company Redonda SA.  (H)