The management of the Poreč company Riviera Adria has called a General Assembly of shareholders for July 24, at which it will propose an increase in share capital and the withdrawal of shares from listing on the Zagreb Stock Exchange.
The management of this tourism company will propose to shareholders a decision to increase share capital by 52.2 million kuna, without issuing new shares and through the conversion of retained earnings generated in the previous year. After the increase, the share capital of Riviera would amount to 1.118 billion kuna, and it will remain divided into 106,546,340 ordinary shares with no nominal value.
Additionally, the management will propose to shareholders a decision to withdraw the ordinary shares of Riviera from listing on the Zagreb Stock Exchange, with the obligation of the company to repurchase all shares at a fair compensation.
Fair compensation means the average share price, calculated as the weighted average of all share prices of the company achieved on the Zagreb Stock Exchange in the last three months prior to the announcement of the call for the General Assembly in the Narodne novine.
A change to the company’s Statute will also be proposed at the assembly.
