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Serbia's Hempro board finds Ekstra-Pet buyout bid fair

Author Radomir Ralev
Serbia's Hempro board finds Ekstra-Pet buyout bid fair Ken Teegardin/CC BY-SA 2.0

BELGRADE (Serbia), October 11 (SeeNews) - Serbian trading firm Hempro's [BEL:HMBG] board of directors has found the buyout offer by PET packaging producer Ekstra-Pet, priced at 666 dinars ($6.22/5.67 euro) per share, a fair offer to the company's shareholders, it said.

The offered price is in line with legal requirements and the board supports the plans of Ekstra-Pet, Hempro said in a bourse filing on Thursday.

Ekstra-Pet, acting in the bid together with local individual Zvonko Gobeljic, is seeking to acquire 29,962 Hempro shares, equal to a 10.3% stake in the company.

The offer is valid October 4- 14.

Ekstra-Pet and Gobeljic currently own a 89.7% combined stake in the capital of Hempro, or a total of 261,010 shares. The number of Hempro shares owned by Ekstra-Pet is 67,058, while Gobeljic possesses 193,952 shares.

Hempro's shares last traded on September 26 on the Belgrade Stock Exchange, when they gained 30% and closed at 975 dinars.

(1 euro = 117.492 dinars)