August 29 (SeeNews) - Croatian maritime shipping company Uljanik Plovidba [ZSE:ULPL] said on Thursday it will change name to Aplha Adriatic in order to avoid wrong associations with other companies.
The need for the change of Uljanik Plovidba's name has arisen from the fact that the current name could lead to confusion about the company's identity and create wrong associations with other companies, Uljanik Plovidba said in a filing with the Zagreb Stock Exchange (ZSE).
Uljanik Plovidba did not say which those 'other companies' are. It shares part of its name with Croatia's troubled shipbuilding group Uljanik and its subsidiary Uljanik Shipyard, which have been under bankruptcy proceedings since May due to overdue debt.
Uljanik Plovidba said that its shareholders have approved the proposed name change at their August 29 meeting.
Uljanik Plovidba last traded on the ZSE on Wednesday, when they closed 0.84% lower at 59 kuna ($8.8/7.9 euro).
(1 euro = 7.40153 kuna)