September 17 (SeeNews) - The general assembly of Slovenia's white goods manufacturer Gorenje decided on Monday to completely withdraw its GRVG shares from the prime market of the Ljubljana Stock Exchange and the main market of the Warsaw Stock Exchange, Gorenje said.
The withdrawal will take effect on the day the resolution is entered into the court register, Gorenje said in a Ljubljana bourse filing.
Gorenje's majority owner Hisense Luxembourg Home Appliance Holding obtained the approval of the general meeting of shareholders on Monday to squeeze out minorities by taking over their shares against payment of a monetary compensation.
Gorenje explained that since the majority shareholder will acquire all of its shares, it is not reasonable that the shares of the company are listed on the regulated securities markets of the stock exchanges in Ljubljana and Warsaw.
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