Croatian Agency for Financial Services Control (Hanfa) has approved the offer of the Slovakian company to bundle the remaining stocks not in their possession
Prime Tourist Resorts (PTR) announced at the beginning of April the signing of a contract on the transfer of stocks placing them in possession of 8.97 million regular stocks of Sunčani Hvar, a total of 46.18% of total base capital and voting rights, Tportal.hr reports on June 18, 2016.
The Slovakian company also made a deal with Orco Group on the purchase of 3.06 million regular stocks of Sunčani Hvar, a 15.77% share in base capital. With this they control 12.03 million regular stocks and base capital stake of 61.95%.
PTR then announced they will present an offer before the legally prescribed deadline to take over the rest of the stocks, some 7.4 million, after Hanfa approval.
Hanfa has granted PTR’s offer for the final takeover of Sunčani Hvar stocks.
At the beginning of last week, a public auction was held in the Zagreb Stock Exchange to sell the state share in Sunčani Hvar, but no offers were presented.
The auction was held on June 13th by the Centre for Restructuring and Sale (CERP), offering 5.8 million stocks comprising a 29.94% stake in Sunčani Hvar. These are stocks owned by the state, CERP and National Agency for Savings Security and Bank Recovery.
The nominal value of the offered stocks is 116.26 million Kuna, while the call for public auction cited a starting package value of 162.77 million Kuna, coming to 28 Kuna per stock.
After the auction ended, the Exchange announced there were “no offers in the process of public auction.”
The stock price of Sunčani Hvar on Friday was 23.99 Kuna.
