ZAGREB (Croatia), June 23 (SeeNews) - Croatia's Primo Real Estate [ZSE:M7PR] said on Thursday it will propose to its shareholders to pay a dividend of 9.76 kuna ($1.4/1.3 euro) per share for last year and to carry out a capital increase by 112% via a private offering of new shares.
Ex-dividend date is July 4, record date is July 5 and payment date is July 7, the company said in a filing to the Zagreb bourse.
The shareholders will vote on the proposals on June 30.
The company reported a net profit of 7.9 million kuna for last year. Of the total, 395,600 kuna will be allocated to mandatory reserves. The dividend will be paid out of the remaining 7.5 million kuna of the 2021 profit and retained profit of 360,300 kuna for 2020.
The company's capital totals 161.277 million kuna and is distributed in 806,385 shares with a nominal value of 200 kuna per share.
According to the proposal, its capital will be increased by 180.143 million kuna by an issue of 900,715 new shares with a face value of 200 kuna per share to be issued at a price of 220 kuna per share. The new issue will be listed on the Zagreb bourse.
After the increase, the company's capital will amount to 341.42 million kuna, distributed in 1,707,100 shares with a par value of 200 kuna per share.
The company did not say who will subscribe for the new shares, or how it is going to use the money from the capital increase. The existing shareholders will not have a priority right to subscribe the new shares. Their subscription will be held from July 1 to July 10.
The company listed its shares on the Zagreb bourse in July 2021 and they have traded only once since then, on September 24, when they closed at a price of 200 kuna per share as 1,000 shares changed hands.
(1 euro = 7.528 Croatian kuna)