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Minority stake in Croatian hotel operator Jelsa to go on auction

Author Annie Tsoneva
Minority stake in Croatian hotel operator Jelsa to go on auction Photo: Croatia's FINA

ZAGREB (Croatia), December 29 (SeeNews) - A public auction will be held next month for 1,231,494 shares of Croatian hotel operator Jelsa [ZSE: JLSA], equal to a stake of 16.5%, the company said on Wednesday, citing brokerage Intercapital.

The public auction will take place on January 10, Jelsa said in a filing with the Zagreb bourse.

The shares that will be offered belong to tourism and hotel company Aquamarine, which is undergoing a bankruptcy procedure.

According to data published on the Zagreb bourse, at the end of September, a majority shareholder with 82% in Jelsa was Hungarian company Eurobridge Medical Innovation, followed by Aquamarine with 1,233,374 shares, or 16.53%.

The company's equity capital totals 74.6 million kuna ($11.2 million/9.9 million euro) and is distributed in 7,462,031 shares with a par value of 10 kuna per share. Out of the total, 1,343,473 are listed on the Zagreb bourse. Following the announcement, the Zagreb bourse put the company's shares under monitoring.

The last transaction with its shares on the bourse took place on May 5, 2008.

In an another statement on Wednesday, Jelsa said that its supervisory board on December 8 decided to appoint Anton Glumac as CEO for a term of one year, replacing Milos Milicsevics.

(1 euro=7.521 Croatian kuna)

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