ZAGREB (Croatia), November 1 (SeeNews) – Croatian fertiliser producer Petrokemija [ZSE:PTKM-R-A] said its supervisory board approved the appointment of Davor Zmegac as board of directors president.
Zmegac will replace Djuro Popijac, Petrokemija said in a filing with the Zagreb Stock Exchange on Wednesday.
Petrokemija's supervisory board also approved the appointment of Kresimir Rendeli, Goran Plese and Peter Suba as management board members.
The mandate of the new board members started on October 31, the company added.
The appointments are a result of the change in the ownership structure of Petrokemija after the completion of its 450 million kuna ($68.9 million/60.5 million euro) capital hike through the conversion of claims into share capital.
INA [ZSE:INA-R-A] and Prvo Plinarsko Drustvo (PPD) injected a total of 300 million kuna in the capital of Petrokemija and will hold a combined stake of more than 50% in the company after the registration of the share issue in the Zagreb Commercial Court.
Petrokemija will carry out a reverse stock split to cut its capital by 392.6 million kuna to 100.3 million kuna.
(1 euro = 7.4327 kuna)