Đuro Đaković Group announced on Friday a public call for the subscription of 12.5 million new ordinary shares, which would increase the share capital by 250 million kuna, and investors will be able to subscribe for new shares from October 9 to October 20.
The General Assembly of Đuro Đaković Group made a decision on September 22 to increase the capital by 250 million kuna, thereby increasing the share capital from 203.06 to 453.06 million kuna.
This increase in share capital will be implemented by issuing 12.5 million new ordinary shares with a nominal value of 20 kuna each, with a complete exclusion of the preemptive rights of existing shareholders, and by the decision of the assembly, acquirers of new shares are exempt from the obligation to publish a takeover bid.
The subscription of new shares will be conducted in one round in which all investors who will pay at least 800 thousand kuna per investor for the subscribed new shares will have the right to subscribe for each individual offer.
>>>Nenad Bakić Increased Stake in Đuro Đaković Group, Became Owner of 18.8 Percent of the Company
The minimum or maximum number of new shares that an individual investor can subscribe to is not specified, except for the limitation provided by the maximum amount of issuance, i.e., 12.5 million new shares, which is also the threshold for the success of the issuance.
The final price of the new shares will be determined by the Group’s Management on October 20. The Group’s Management will also determine the success of the issuance of new shares, based on the state of subscription and payment after the deadline for payment of new shares, on October 24.
Foreign Investors
Đuro Đaković Group reported in mid-September that it had received a binding offer from the Zagreb company Crni čelik d.o.o., backed by foreign investors from Canada and Kuwait, for a capital increase of 250 million kuna and the acquisition of a majority ownership package in the company.
Crni čelik has three conditions for its binding offer – the decision of the General Assembly to increase the share capital by 250 million kuna by issuing new shares at a price of 20 kuna, with the exclusion of the preemptive rights of existing shareholders, “which will ultimately represent more than 50 percent of total ownership”, then the decision to acquire the newly issued shares without the obligation to publish a takeover bid, and that four members determined by Crni čelik enter the seven-member Supervisory Board of Đuro Đaković.
