The Management Board of the Croatian Financial Services Supervisory Agency (Hanfa) determined at today’s meeting that NESMA Contracting from Saudi Arabia is obligated to publish a takeover bid for the company Končar – Electrical Engineering from Sesvete Kraljevec.
Hanfa ordered NESMA Contracting to submit a request for approval of the publication of the takeover bid, the takeover bid itself, and the relevant documents within 30 days of receiving this decision.
It also ordered Končar – Electrical Engineering to deliver this decision to all shareholders of the company within 15 days.
In its decision, Hanfa states that it was established during the supervisory procedure that NESMA CC acquired 2,117 shares of Končar – Electrical Engineering on September 29, 2011, based on the Annex to the Share Purchase Agreement, after which it held a total of 22,196 (26.90 percent) shares of that company, thus creating an obligation to publish a takeover bid, as it exceeded the control threshold of 25 percent of voting shares.
