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<p align="center"><b>PLIVA and Zagrebacka banka reach an agreement regarding the |
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sale of 2.5% equity stake in PLIVA</b></p> |
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<p> PLIVA d.d. (PLIVA) and Zagrebacka banka (ZABA) today announced that they have |
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reached an agreement regarding the sale of ZABA's 2.5% equity stake in PLIVA. |
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</p> |
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<p>The transaction involves ZABA's sale of 2,500,000 PLIVA Global Depositary Receipts |
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(GDRs) for a total consideration of USD 28,375,000.00 of which USD 16,358,130.75 |
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PLIVA will pay in cash and the remaining balance will be settled through the |
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69,023 ZABA shares held by PLIVA. Through this transaction, both PLIVA and ZABA |
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will increase their treasury stock (PLIVA to an allowable maximum of 5%, as |
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per Shareholder approval, and ZABA to 3%, which is within the limit of 10% allowed |
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by the Company Law). ZABA will use own shares towards the Stock Option Plan |
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and Bonus Scheme, while PLIVA plans to use it primarily for financing of further |
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acquisitions. </p> |
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<p>Through this transaction, Zagrebacka banka has reduced its holding in PLIVA |
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to around 5%. In the longer term, Zagrebacka banka will continue to support |
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PLIVA as a shareholder as long as this is in the best interests of Zagrebacka |
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banka and its shareholders. </p> |
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<p>PLIVA is very pleased to have reached an agreement with Zagrebacka banka and |
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is confident that this transaction should help alleviate some investor concern |
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regarding an impending stock overhang. </p> |
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<p>For further information, please contact: </p> |
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<p>PLIVA d.d.<br> |
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<b>Erika Kaspar<br> |
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</b>Investor Relations, Director<br> |
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Tel: 385 1 6120 755 <br> |
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Fax: 385 1 6114 413 <br> |
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E-mail: <a href="mailto:erika.kaspar@pliva.hr">Erika.Kaspar@pliva.hr</a></p> |
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<p> PLIVA d.d.<br> |
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<b>Marija Mandic</b><br> |
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Finance, Financial Analyst<br> |
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Tel: 385 1 6160 355<br> |
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Fax: 385 1 6120 634<br> |
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E-mail: <a href="marija.mandic@pliva.hr">Marija.Mandic@pliva.hr</a></p> |
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<p> ZAGREBACKA BANKA d.d. <br> |
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Hrvoje Poljak <br> |
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Investor Relations, Director<br> |
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Tel: 385 1 4810 363<br> |
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Fax: 385 1 4810 383 <br> |
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E-mail: <a href="mailto:hrvoje.poljak@zaba.hr">Hrvoje.Poljak@zaba.hr </a></p> |
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<p>ZAGREBACKA BANKA d.d.<br> |
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Daniela Roguljic<br> |
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Capital Markets, Director<br> |
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Tel: 385 1 6176 262<br> |
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Fax: 385 1 6176 274 <br> |
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E-mail: <a href="mailto:daniela.roguljic@zaba.hr">Daniela.Roguljic@zaba.hr</a> |
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</p> |
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