On 23 July 2018, Issuer Ledo d.d. Zagreb received a letter from Croatian financial services supervisory agency, CLASS: 976-05 / 18-01 / 08, REF.NO.: 326-01-770-771-18-201, requesting a response to the questions posed in the letter, in which the Issuer was given 3 days to respond.
The Issuer was asked the following questions:
1. How will the reached Settlement (assuming it becomes res judicata) affect the legal status and business operations of the Issuer and in which period are changes of the Issuer’s legal status expected?
2. What influence will the reached settlement (assuming it becomes res judicata) have on the Issuer’s shares i.e. the existing shareholders of the Issuer?
With regard to both of these questions, the Issuer notes that the Settlement in question was voted on 4 July 2018 and confirmed on 6 July 2018, as part of the Extraordinary Administration Procedure, in accordance with the Act on Extraordinary Administration Procedure in Companies of Systemic Importance for the Republic of Croatia (OG 32/2017). In this respect, the Issuer directs the body specified in the title to refer the specific issues related to the outcome and consequences of the settlement implementation directly to the Extraordinary Administration and the competent court, under whose domain and jurisdiction was the implementation of the processes that preceded the reaching of the Settlement and in whose jurisdiction is the implementation of the implementation process prescribed by the Settlement itself.
The Issuer points out that the Settlement in Article 29.1.2. stipulates that the Company will not, after the finality of the Order of 6 July 2018, pursuant to which the Settlement is confirmed, continue to operate but that the Company's business will be transferred to a newly formed company. The process of Settlement implementation, of course, will be very complex and it will last several months, during which period, in accordance with the Settlement, relationships will be formally regulated in the old and new company. The public will be timely informed of the individual phases of implementation.
The Issuer considers that it is not authorized to formally interpret the Settlement or project any potential outcomes outside the framework that has already been disclosed to the investment community (e.g. on 9 July 2018, 6 July 2018, 5 July 2017, 20 June 2018…)
The Issuer hereby confirms that it will continue to inform on further actions and decisions, which are deemed to be price sensitive information in accordance with the applicable regulations.
Ledo d.d. Zagreb
mr.sc. Dario Vrabec,
The President of the Management Board
Source of information:
Ledo d.d.
Marijana Čavića 1a
10000 Zagreb
Telefon: 01 2385 723
Telefax: 01 2385 686
e-mail: financije@ledo.hr
web: www.ledo.hr
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