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Zagreb bourse to delist Spacva's shares after squeeze out

Author Annie Tsoneva
Zagreb bourse to delist Spacva's shares after squeeze out Author: Zagreb bourse. License: All rights reserved.

ZAGREB (Croatia), December 14 (SeeNews) - The Zagreb Stock Exchange (ZSE) said on Tuesday that it will delist the shares of wood processing company Spacva [ZSE:SPVA] as of December 17, when the central depository agency will register a squeeze-out of Spacva's minority shareholders by local tourism and real estate company Pervanovo.

The last trading day for Spacva's shares on the ZSE is December 14, the bourse said in a statement.

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The depository agency approved last week the squeeze-out of the remaining 52,078 shares that Pervanovo does not own yet in Spacva at a price of 50.80 kuna ($7.6/6.8 euro) per share for all minority shareholders on record by December 16.

Pervanovo holds 98.96% of the capital of Spacva following a takeover carried out earlier this year, in which it bought 15,028 shares representing a stake of 0.28% of Spacva's equity capital. Spacva holds 2,735 own shares, representing 0.05% of its share capital. Spacva's equity capital of 105.5 million kuna is divided into 5,276,522 ordinary shares of 20 kuna in par value each.

Spacva's shares last traded on the ZSE on December 8 when they closed 50% higher at 150 kuna, as seven shares changed hands, bourse data showed.

(1 euro=7.522 Croatian kuna)

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