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CEO to launch buyout bid for Bosnia's Progres Doboj

CEO to launch buyout bid for Bosnia's Progres Doboj Stock (Author: Fondul Proprietatea) License: all rights reserved.

SARAJEVO (Bosnia and Herzegovina), October 8 (SeeNews) - Bosnian waste management company Progres Doboj [BANJ:PRGS-R-A] said on Friday its CEO and largest shareholder, Zlatko Zhakula, intends to launch a takeover offer to buy the shares in the company it does not already own.

Zhakula intends to offer 0.18 marka ($0.11/0.09 euro) per share in the planned buyout bid, Progres Doboj said in a bourse filing.

Progres Doboj's share capital of 1.5 million marka is divided into 1,510,297 shares, each with a par value of 1 marka.

Zhakula currently holds 376,820 shares, representing a 24.95% stake, Banja Luka Stock Exchange (BLSE) data showed. Other large shareholders include Manojlo Blagojevic, who owns 18.8%, and the city of Doboj with a 15.8% stake,

Progres Doboj's shares last traded on the BLSE on September 14, closing flat at 0.18 marka.

(1 euro = 1.95583 marka)