ZAGREB, February 18, 2020 - The Zagreb Stock Exchange (ZSE) decided on Monday to delist the shares of seven members of the former Agrokor food and retail conglomerate over their failure to meet the transparency obligations under the law and ZSE rules.
The shares of water bottler Jamnica, ice-cream and frozen food producer Ledo, cooking oil producer Zvijezda, news agent's Tisak and agricultural companies Belje, Vupik and PIK Vinkovci have not traded on the ZSE since 1 March 2018 when the HANFA regulator temporarily suspended trading in their shares.
The ZSE said in a lengthy explanation that the companies had repeatedly failed to meet their transparency obligations under the law and ZSE rules, including the publication of quarterly and annual financial statements and their financial obligations towards the ZSE.
In taking its decision, the ZSE took into account the 24 December 2019 declaration by the seven companies that they would not be able to meet the requirements of the ZSE's new rules because they did not have the necessary organisational procedures in place to be able to do that.
More news about the former Agrokor can be found in the Business section.
