Nikola Dujmović Continues to Sell Span Shares, New Owner Found for 70 Thousand Shares

The CEO of the IT company Span, Nikola Dujmović, continues to sell shares, and the buyer is still unknown. In a new announcement on the Zagreb Stock Exchange on Wednesday, the third this month, it states that Dujmović sold an additional 20 thousand shares in a block transaction on Tuesday. The shares were sold for 50 euros, making the total value of the transaction one million euros. On Tuesday, the stock price fluctuated between 51.20 and 52.80 euros, ultimately closing at 52.40 euros.

Dujmović sold 30 thousand shares for 52.40 euros in another block transaction on August 1, with the value of that package amounting to 1.57 million euros. Additionally, on August 7, he sold 20 thousand shares for 50 euros each. In these three transactions, the head of Span has sold a total of 70 thousand shares for 3.6 million euros. When asked by Lider about the reasons for these sales, Nikola Dujmović briefly stated that ‘there is no special reason’.

It is worth noting that Nikola Dujmović controls two shareholder accounts, according to data from the Central Clearing Depository Company. On the first account, as the largest shareholder, he holds 543 thousand shares, representing 27.7 percent of the stake. His third-largest account holds an additional 100 thousand shares, or just over five percent of the stake. The sale of Span shares is not an unusual practice among the members of the management of this IT company.

For example, on June 20, management member Marijan Pongrac sold 10 thousand shares for 45 euros each. The stock price that day was 44.70 euros. The day before, Zvonimir Banek, a member of the Supervisory Board until last year, also sold 10 thousand shares for 45 euros. Marijan Pongrac also sold a package of 6,200 shares for 44.20 euros on May 8. Zvonimir Banek and Marijan Pongrac are the fourth and fifth shareholders of Span – Banek holds 97 thousand shares, or nearly five percent, while Pongrac holds 90 thousand shares, which is 4.6 percent of the stake.

It is worth noting that Span recorded a 40 percent increase in group revenues in the first half of this year, amounting to 88.2 million euros, a one-third increase in earnings before interest, taxes, depreciation, and amortization (EBITDA) after one-time items of 5.8 million euros, and a seven percent increase in net profit to 2.3 million euros. The stock value has increased by five percent this year, which is worse than the CROBEX index, which has recorded a jump of 16.5 percent for 2024.