The Ministry of Finance has written off 225,814,090 kuna of debt that Željezara Split owed to state creditors at the beginning of this month, and the write-off was carried out based on a contract with the Croatian Privatization Fund under which the Polish company Zlomrex became the owner of the steelworks.
In a notice from Željezara Split, which was reported by the Zagreb Stock Exchange, it is stated that the company today received a letter from the Ministry of Finance which, in accordance with the Agreement between Zlomrex S.A. and the Croatian Privatization Fund, executes the write-off of Željezara Split’s obligations to the Ministry of Finance in the amount of 225,814,090 kuna. It is added that the date on the document is October 9 of this year.
Željezara Split submitted the notice to the Zagreb Stock Exchange after the Exchange requested a statement from the Management regarding the increase in the company’s share price by 70.59 percent during yesterday’s trading, which is why trading in Željezara’s shares was temporarily suspended. The Zagreb Stock Exchange also reported that trading in those shares will resume on Monday, October 22. The privatization of Željezara Split, in which Polish Zlomrex became the owner of 98.34 percent of the company’s shares, was completed in August of this year, and the write-off of 99.9 percent of the debt to state creditors was one of the conditions of the purchase agreement. (H)
