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N. Macedonia's securities commission rejects Polish investors buyout plan for Tajmiste

N. Macedonia's securities commission rejects Polish investors buyout plan for Tajmiste Author: Mineco. Licence: All rights reserved.

SKOPJE (N. Macedonia), November 30 (SeeNews) - North Macedonia's Securities and Exchange Commission (SEC) said on Tuesday it has rejected a request by Poland-based investors Wojciech Edward Pilch and Jacek Bigosinski to launch a takeover bid for Tajmiste [MSE:TAJM], a local company active in the mining, hospitality and metal products industries.

The request was rejected because the two investors have not secured funds or a bank guarantee for the planned takeover bid, the SEC said in a statement.

The investors can submit a new takeover offer for Tajmiste not earlier than one year from the date of the official cancelation of their intention.

Pilch and Bigosinski planned to offer 970 denars ($17.8/15.7 euro) per Tajmiste share.

Pilch entered the capital of Tajmiste in August, after buying a 21.88% stake in the company from individual shareholder Marija Toleska Doneska.

According to data from the country's Central Securities Depository, other shareholders owning more than 5% shareholding in Tajmiste are individual investors Natasha Toleska with a 21.98% stake and Vladimir Toleski with a 28.50% stake.

Tajmiste's shares last traded on the Macedonian Stock Exchange on August 3 at an average price of 970 denars.

(1 euro = 61.86 denars)

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