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ZAGREB (Croatia), November 19 (SeeNews) – Croatian sugar and candy producer Termes Grupa [ZSE:IPKK-R-A] said on Tuesday it plans to delist its shares from the Zagreb Stock Exchange (ZSE).
The company did not provide reasons for the planned delisting in a statement filed with the ZSE.
It said the proposal will be put to vote at a December 23 shareholders meeting.
Termes Grupa will buy back the shares of all shareholders who vote against the decision at a fair price within a period of up to three months after the proposed delisting enters the court registry, the statement said.
Local food group Zito holds a 85.25% stake in Termes Grupa, followed by the company itself with 4.35%, ZSE data showed on November 19. The remainder belongs to smaller shareholders.
The company's shares last traded on the ZSE on November 13, closing down 0.93% at 53.5 ($8.0/7.2 euro) kuna.
(1 euro = 7.4428 kuna)