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Croatia's Luka Rijeka management fails to adopt capital hike decision

Author Iskra Pavlova
Croatia's Luka Rijeka management fails to adopt capital hike decision Author: Luka Rijeka. License: All rights reserved.

ZAGREB (Croatia), January 17 (SeeNews) - Luka Rijeka [ZSE:LKRI], the operator of Croatia's main Adriatic port, said that its management has failed to adopt a decision on a planned capital hike.

The plan to increase the capital via a new share issue was discussed at a January 16 meeting of Luka Rijeka's management board, the company said in a filing with the Zagreb bourse on Thursday.

"The management of the company did not take a concrete decision at its meeting, therefore once such a decision is adopted, the investment public will be informed in line with the law," the statement said.

It gave no further details.

Luka Rijeka's current capital of 539 million kuna ($81 million/72 million euro) is divided into some 13.48 million shares of 40 kuna in par value each.

Its shares did not trade on the Zagreb bourse by 11:30 CET on Friday. They last traded on Wednesday, closing flat at 41.80 kuna.

Poland's OT Logistics is the largest single shareholder in Luka Rijeka with a 26.5% stake, followed by the Croatian government, which controls 25% via its centre for enterprise restructuring and privatisation, CERP, according to January 17 bourse data. Pension fund AZ OMF holds 15%, while the remainder belongs to smaller shareholders, mainly institutional investors, including other AZ pension funds as well as Erste and PBZ pension funds.

(1 euro = 7.43966 kuna)