September 18 (SeeNews) - Croatian real estate company Excelsa Nekretnine [ZSE:ATLN] said on Wednesday it plans to delist its shares from the Zagreb bourse.
The decision will be put to the vote during a shareholders' meeting on October 5, Excelsa said in a filing to the Zagreb Stock Exchange without giving the reason for the proposed delisting.
The company also said it will buy out the shares of all shareholders who vote against the decision at a rightful price within three months after the delisting.
Excelsa has 3,335,801 listed regular shares. Its share capital totals 128 million marka ($19 million/17 million euro), ZSE data showed.
Croatia's Adriatic Investment Group owns 85.83% of Excelsa Nekretnine, while the Croatian government controls 1.6%, according to September 18 bourse data. The remainder belongs to smaller shareholders.
Excelsa's shares traded 11.22% lower at 174 kuna by 11:50 CET on the ZSE on Wednesday, following the announcement of the planned delisting. They closed flat at 196 kuna on Tuesday.
The company's net profit fell slightly to 31.3 million kuna in 2018 from 31.9 million kuna in 2017.
(1 euro = 7.39642 kuna)