MOL officially announced its General offer for freefloat of INA on the Zagreb Stock Exchange
Today MOL Plc. officially announced on the Zagreb Stock Exchange the General offer to the shareholders of INA, d.d., not acting in concert with MOL Plc., to purchase not more than the total of 800,910 un-encumbered and fully paid off INA, d.d. ordinary shares, each in nominal value of HRK 900.00 for the price of HRK 2,800 per share. Such a General offer is not being subject to provisions of the Croatian Takeover Act.
With this General offer MOL granted an opportunity to small shareholders of INA to sell their shares to MOL at HRK 2,800, representing more than 60% premium compared to the last closing price on the Zagreb Stock Exchange before publishing MOL’s decision on 2 December 2010. Since some shareholders could and did not sell their shares in 2008 during the voluntary takeover offer for INA, d.d., MOL now grants another opportunity to those currently holding shares of INA, the majority of whom are employees and former employees of the company, or private persons who acquired their shares during the initial public offering of INA.
On 13 December 2010 the Croatian Financial Services Supervisory Agency (HANFA) gave a positive opinion on the regulatory aspects of MOL’s General offer for purchase of INA’s shares. As of today MOL signed an agreement with the Central Depository and Clearing Company Inc. (CDCC), who is the settlement agent in the process. MOL will contact the shareholders of INA within 3 business days as of opening the offer in the system of the depositary (CDCC) by providing them the instruction for acceptance of this General offer.
Validity period of this General offer is from 15 December 2010 until 14 January 2011. Acceptance of the General offer has to be received by CDCC before elapse of the validity period of the General offer, i.e. by 14 January 2011. The term for payment of the price is 31 January 2011.
Together with the payment of the price, MOL undertakes to reimburse to shareholders the costs of notarisation of signatures on offer acceptance documents, as well as potentially required costs of solemnization and/or notary public deed. Any other possible costs related to the acceptance of the General offer by the shareholder will be borne by the shareholder.
This General offer underlines our long term commitment to INA and Croatia. Our aim is to make INA a strong, competitive and successful Croatian company, which everyone can be proud of. A successful INA generates more value, more tax revenues, more investment and more jobs for the Croatian economy.
For further information, please contact:
Investor Relations + 36 1 464 1395
Facsimile: + 36 1 464 1335
Downloadable documents:
Publish date:
2010-12-14 (All day)
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