The government has decided to capitalize the national airline Croatia Airlines with 296 million kuna, and this increase in share capital will be implemented by issuing 29.6 million new ordinary shares in the name, with a nominal value of 10 kuna each.
– The subscription and payment for the new ordinary shares will be made by the cash contribution of the Republic of Croatia in the amount of 296 million kuna, and based on the fully executed payment, after registration in the court register, the corresponding number of ordinary shares will be issued – explained Minister of the Sea, Transport and Infrastructure Oleg Butković.
By implementing the capitalization of Croatia Airlines, the preservation of the company’s economic activity will be enabled and sufficient liquidity ensured, stated Butković.
The government has also authorized him to conclude an investment agreement with Croatia Airlines, and today at the extraordinary general assembly of Croatia Airlines, a decision will be made regarding this capital increase of 296 million kuna, noting that the entire amount will be paid by the state, which holds 98.76 percent of the shares.
If the assembly accepts the proposal, the share capital of Croatia Airlines will increase from 627.9 million kuna to 923.9 million kuna, that is, by 296 million kuna, and this increase will be implemented based on the investment agreement between the state and the company.
