The Management and Supervisory Board of Uljanik on Tuesday selected Kermas energija d.o.o as the strategic partner in the recapitalization of the shipyard, announced the Pula shipyard.
Uljanik states that in response to the call for potential strategic partners to submit binding letters of intent by March 23, binding letters were received from three bidders – the Hong Kong company Asian Bond Ventures, the Samobor DIV, and Zagreb’s Kermas energija.
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At today’s joint meeting of the Management and Supervisory Board, following consultations with the unions, the decision was made to select Kermas energija d.o.o. as the strategic partner in the recapitalization of Uljanik.
With the strategic partner, Uljanik will proceed to complete the development and implementation of the restructuring program for Uljanik Shipyard, in accordance with the government’s decision from January this year, it is emphasized in the statement.
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Upon acceptance of the restructuring program, the strategic partner will be allowed to enter the ownership structure of the company, through the application and realization of the decision of the general assembly on increasing the share capital with cash contributions, with a complete exclusion of the preemptive rights of existing shareholders and amendments to the statute, it is concluded in the statement.
Shareholders of the Pula shipyard decided at an extraordinary general assembly in mid-February on the recapitalization or increase of the share capital from 180 to a maximum of 302.22 million kuna.
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On January 11, the government approved a state guarantee for Uljanik Group for a loan of 96 million euros, conditional on Uljanik and Uljanik Shipyard carrying out an increase in share capital, with the entry of a strategic partner into Uljanik d.d. and preparing and initiating the restructuring process based on the restructuring plan of Uljanik Shipyard d.d. in cooperation with the strategic partner.
