The creditors of Dioki did not accept the financial restructuring plan at today’s hearing, which means that the pre-bankruptcy settlement procedure for Dioki will be suspended, indicating that Dioki is going into bankruptcy.
At today’s hearing regarding the proposed financial restructuring plan for Dioki, representatives of creditors holding 52.88 percent of Dioki’s debt voted, with 41.12 percent in favor.
The hearing included creditors whose claims against Dioki amount to 905.4 million kuna.
The financial restructuring plan for Dioki was not accepted, which led the Settlement Council of Fina to conclude that the pre-bankruptcy settlement procedure is suspended, which under the Law on Financial Operations and Pre-Bankruptcy Settlement means that Dioki is going into bankruptcy.
The Zagreb Stock Exchange suspended trading of Dioki’s shares today after 1:00 PM until the public is informed about the outcome of the hearing in the pre-bankruptcy settlement procedure.
“Considering that the information about the outcome of the hearing for voting on the financial restructuring plan represents information that can reasonably be expected to significantly affect the share price, a situation has arisen in which it is necessary to protect investors by suspending trading in the relevant shares until the public is fully and accurately informed about the mentioned circumstances,” the stock exchange stated in a press release.
Trading in this share will be suspended until Dioki provides the Stock Exchange with a notice of the voting results from the hearing.
Prior to the suspension, Dioki’s shares were among today’s biggest losers. Its price was down 5.4 percent, at 24.52 kuna, with a turnover of 452,000 kuna.
