Croatia osiguranje (CO) has announced via the Zagreb Stock Exchange that it intends to publish a voluntary takeover bid for Croatia Lloyd d.d., Zagreb.
The share capital of the reinsurance company Croatia Lloyd amounts to 116.06 million kuna and is divided into 145,076 ordinary shares, each with a nominal value of 800 kuna. Croatia osiguranje holds 137,299 shares of Croatia Lloyd, which represents 94.64 percent of the total number of shares.
Croatia osiguranje announces that, within the timeframe prescribed by the Companies Act on Takeovers, it will publish a voluntary public takeover bid to all shareholders of Croatia Lloyd with the aim of acquiring all remaining shares at the price and under the other conditions of the public offer approved by the Croatian Financial Services Supervisory Agency.
Shortly after the announcement by Croatia osiguranje, the Zagreb Stock Exchange temporarily suspended trading of the ordinary and preferred shares of Croatia osiguranje (CROS-R-A and CROS-P-A). Trading of these shares has been suspended today until 11 a.m., which, according to the Exchange’s assessment, is a sufficient period to create conditions for fair and equitable trading as it can be assumed that all investors will have the information necessary to make investment decisions.
