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Barr publishes report on takeover of Pliva

ZAGREB, Nov 2 (Hina) - After the recent takeover of the Croatian drug company Pliva by Barr Pharmaceuticals, the US company and its associates now hold 91.74 percent of Pliva's capital stock and 96.38 percent of votes in Pliva's Shareholders Assembly, reads a report on Pliva's takeover published by Barr in Croatian dailies on Thursday.
ZAGREB, Nov 2 (Hina) - After the recent takeover of the Croatian drug company Pliva by Barr Pharmaceuticals, the US company and its associates now hold 91.74 percent of Pliva's capital stock and 96.38 percent of votes in Pliva's Shareholders Assembly, reads a report on Pliva's takeover published by Barr in Croatian dailies on Thursday.

The report was published in line with Barr's obligations stemming from the Law on the Takeover of Joint Stock Companies.

Barr and its associates now hold 17,056,977 of Pliva's voting shares, whose total nominal value is 1.7 billion kuna or 91.74 percent of Pliva's capital stock.

Each acquired share represents one vote in Pliva's Shareholders Assembly, and Barr now holds 17,056,977 votes.

Of the 18,592,648 Pliva shares, 895,229 are own shares which are not considered voting shares, so that Pliva's Assembly now has 17,697,419 votes, of which Barr holds 96.38 percent.

The price of Pliva shares was 820 kuna per share.

As previously announced by Pliva and Barr, Pliva's Management Board will continue to be headed by Zeljko Covic, and Ivan Mijatovic will stay on the Board. Three new members of the Management Board are Paul M. Bisaro, Barr's president and CEO, Tim Sawyer, vice-president in charge of Barr's generic sales, and Zdravka Knezevic, executive director of Pliva's global research and development department.

Pliva's Supervisory Board has decided to schedule a special session of the Shareholders Assembly for December 19 to elect a new Supervisory Board.

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