At the assembly held on Tuesday, several of Mol’s counter-proposals were adopted, among which the one regarding the issuance of convertible bonds worth 1.5 billion kuna attracted the most attention.
The mentioned bonds can only be subscribed by the state and Mol, while minority shareholders will be excluded. The bonds can be converted into shares after three years under certain conditions. Thus, Mol could quietly become the majority shareholder of the largest domestic oil company, as the Government currently lacks the funds to subscribe to the bonds, and it is questionable how fair it is to exclude minority shareholders from the bond subscription, whom the Government had just invited to purchase INA shares in the public offering. (A. Ku.)
