December 6 (SeeNews) - Croatian renewable energy company Professio Energia [ZSE:DLPR] said on Tuesday it will propose to its shareholders to pay a gross dividend of 5 kuna ($0.70/0.66 euro)/share, out of its net profit retained for 2017, 2018, and 2019, and will target to raise 75 million kuna via a new share issue.
Overall, 11.3 million kuna will be paid as dividend if the proposal is approved, the company said in a filing to the Zagreb bourse.
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Earlier this year, the company paid 6 kuna in dividend from part of its 2021 net profit.
The shareholders will vote on the proposal on December 12. Ex-dividend date is December 14, record date is December 15 and payment date is December 31.
The company will also propose to shareholders to increase its capital by 35 million kuna to 261.6 million kuna by a new share issue of 350,000 shares with a face value of 100 kuna each, which it will offer for subscription at a price of 300 kuna per share in up to two rounds.
The differential between the par value and the sale price of the new issue will be allocated to the company's capital reserves. In the first round, only existing shareholders will be able to subscribe for new shares.
The second round would take place only if there are unsubscribed shares left after the first round. It is limited only to existing shareholders who used fully their subscription rights in the first round, as well as local pension fund managed by the same pension fund management companies, which used fully their subscription rights in the first round, and other entities without a legal personality managed by insurers which used fully their subscription rights in the first round.
The company did not disclose the purpose of the capital increase.
Currently, its capital is 226.6 million kuna and is distributed into 2,266,174 shares with a face value of 100 kuna per share.
The shares of Professio Energia were listed on the Zagreb Stock Exchange (ZSE) in October 2019 but have not traded yet.
Local pension insurance fund Erste Plavi OMF category B controls 50.67% of the company, followed by pension fund PBZ Croatia Osiguranje OMF category B with 32.66% and insurer Croatia Osiguranje with some 14%, ZSE data showed.
(1 euro = 7.555 kuna)
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