The General Assembly of Ingra today made a decision to increase the share capital by converting the claims of certain groups of creditors into share capital, as announced by Ingra.
The Assembly first accepted the decision to reduce the share capital from 300 million kuna to 150 million kuna by transferring the funds obtained from the reduction to capital reserves. This was followed by a decision to increase the reduced share capital in the capital increase by 120.9 million kuna, to 270.9 million kuna. Of this, 38 million kuna relates to the conversion of debt from bonds, 40.42 million kuna to the conversion of debt from active tranches of commercial papers, and 42.48 million kuna to claims from business partners and cooperators in investment projects.
Almost 70 percent of the claims, or approximately 83 million kuna, relate to the reduction of short-term debt, which will contribute to improving Ingra’s financial position and greater business stability, the statement said. Ingra announced financial restructuring at the beginning of November, in which the share capital would first be reduced, and then a capital increase would be carried out by exchanging the claims of Ingra’s creditors for equity stakes. At the beginning of December, Ingra reported that the total value of expressed interest in participating in the capital increase amounts to 120.9 million kuna. (H)
