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General Assembly on July 30 Regarding Dividend and Bonus Payments

The General Assembly of the tourist and hospitality company Plava Laguna from Poreč, convened for July 30, will decide on the use of profits from 2009, the payment of dividends to shareholders, and the amount of bonuses for the Supervisory Board and management for the results achieved in the previous year, according to the invitation for this Assembly published on the Zagreb Stock Exchange.

The Assembly proposes that from the 45.67 million kuna of last year’s net profit of Plava Laguna, 2.28 million kuna be allocated for legal reserves, and the remaining part for the payment of preferred fixed and regular dividends to shareholders. A total of 105 thousand kuna, or 1 kuna per preferred share, would be allocated for the preferred fixed dividend, while 43.28 million kuna would be paid for the regular annual dividend. Additionally, the Assembly will decide on the use of retained earnings from 2005, of which part or a total of 26.1 million kuna would be paid as a regular dividend to owners of ordinary and preferred shares. After that, the retained earnings from 2005 would amount to 6.47 million kuna.

If these decisions are adopted, the dividend per ordinary share would amount to 108.12 kuna, and per preferred share to 109.12 kuna. All shareholders of Plava Laguna who are registered in the Central Depository and Clearing Company 30 days prior to the decision on this payment will have the right to receive such dividends. For bonuses to the Supervisory Board and management of Plava Laguna for the results achieved in 2009, a total of 3.64 million kuna is planned, which will burden this year’s operations. It is also stated that the amount of the bonus is appropriate to the state of the Company and that the Supervisory Board will decide on the distribution of the bonus after such a decision is made by the Assembly. According to SKDD data, the majority shareholding in Plava Laguna of 80.34 percent is held by the Liechtenstein company Sutivan Investments Anstalt. (H)