Allianz ZB demands that OT Logistics acquire 2,042,914 shares of Luka Rijeka’s shares through a put option.

A Polish transport, forwarding and logistics operator, OT Logistics released a statement in which they stated that Luka Rijeka’s shareholder Allianz ZB demands from them to acquire 2,042,914 shares of Luka Rijeka’s shares through a put option.

According to the statement, Allianz ZB sent their notice of the right to call the put option regarding Luka Rijeka’s shares based on a shareholder’s agreement signed back in 2017. However, OT Logistics stated that the demand does not have legal force, as earlier on 28 June, it had terminated the above shareholders’ agreement with Allianz ZB, with immediate effect.

As stated in the original release (which can be found here), the cooperation agreement between shareholders has been signed for a period of 7 years and sets out the conditions for cooperation in managing Luka Rijeka as well as in conducting a tender offer for Luka Rijeka shares. The tender was supposed to be announced by OT Logistics. Additionally, the parties agreed for a lock-up on the shares for a period of 1 year and 90 days since the end of the tender offer.