The Supervisory Board of Petrol discussed investment in Istrabenz
Ljubljana, 24th June, 2009 - At its 6th meeting held today, the Supervisory Board of Petrol d.d., Ljubljana discussed current events related to the investment in Istrabenz, d.d; additional explanation was given by Bogdan Topič, Chairman of the Management Board of Istrabenz.
Upon a thorough economic and legal analysis, the Supervisory Board fully approved the proposal by the Management Board of Petrol regarding the company's non-participation in the capital increase of Istrabenz. However, Petrol will submit its binding offer to Istrabenz for the purchase of a 51% stake in Instalacija d.o.o. at market value, appraised by a certified company value appraiser.
Petrol adopted these decisions with the aim of its constructive participation in solving the financial difficulties of Istrabenz. The proposed purchase of a 51 % stake in Instalacija d.o.o. will entirely fulfil the expectations of the bank consortium, as through the realisation of capital gains the company will increase its capital and also gain access to new financial resources.
Petrol has always supported activities and decisions which might lead to an agreement on mutual relations between creditors and the company, and/or to an appropriate solution and reorganisation of Istrabenz.
Tomaž Kuntarič President of the Supervisory Board
Upon a thorough economic and legal analysis, the Supervisory Board fully approved the proposal by the Management Board of Petrol regarding the company's non-participation in the capital increase of Istrabenz. However, Petrol will submit its binding offer to Istrabenz for the purchase of a 51% stake in Instalacija d.o.o. at market value, appraised by a certified company value appraiser.
Petrol adopted these decisions with the aim of its constructive participation in solving the financial difficulties of Istrabenz. The proposed purchase of a 51 % stake in Instalacija d.o.o. will entirely fulfil the expectations of the bank consortium, as through the realisation of capital gains the company will increase its capital and also gain access to new financial resources.
Petrol has always supported activities and decisions which might lead to an agreement on mutual relations between creditors and the company, and/or to an appropriate solution and reorganisation of Istrabenz.
Tomaž Kuntarič President of the Supervisory Board
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