September 13 (SeeNews) - Croatian construction firm Osijek-Koteks cut its share capital to 183 million kuna ($27.5 million/24.7 million euro) from 366 million kuna after halving the nominal value of its stocks, the country's Central Depositary and Clearing Company, SKDD, said.
The decision for the capital decrease was approved at an August 23 shareholder meeting, SKDD said in a statement earlier this week.
The nominal value of each Osijek-Koteks stock was cut to 4.99 kuna from 10 kuna, the statement said. They were then merged in a 20:1 proportion, meaning that every 20 shares with a nominal value of 4.99 kuna each were merged into a single share with a par value of 100 kuna.
The company's share capital is now divided into 1,831,760 shares with a nominal value of 100 kuna each.
Osijek-Koteks is 100%-owned by Zomab Group, SKDD data showed on September 13.
According to a May report in local weekly Lider, the head of Osijek-Koteks' management board Zoran Skoric and board member Marko Tadic control 80% of Zomab Group, while the remainder is held by Switzerland-based Stilton Group Holding.
(1 euro = 7.39435 kuna)