Croatia's Osijek-Koteks halves share capital to 24.7 mln euro

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)