Yesterday, Kraš ESOP held an extraordinary shareholder meeting in which the assembly voted against the proposal of acting in concert with Mesna Industrija Braća Pivac, regarding the takeover bid for Kraš.

Yesterday, Kraš published a document on the Zagreb Stock Exchange announcing that Kraš ESOP held an extraordinary shareholder meeting. In the mentioned meeting, Kraš ESOP voted against the proposal of acting in concert with Mesna Industrija Braća Pivac, regarding the takeover bid for Kraš.

Earlier this month, Mesna Industrija Braća Pivac started negotiations with KRAŠ-ESOP regarding the joint action. Note that Mesna Industrija Braća Pivac stated earlier that in case if the two parties do not reach a joint decision, they will publish independently a voluntary takeover bid.

As a reminder, in parallel to this event, Kappa Star Limited (KSL) started buying large volumes of Kraš’ share, which eventually led to a 160.4% increase in the share price (compared to the beginning of September). According to the Zagreb Stock Exchange, Kappa Star Limited currently owns 18.43% of the share of Kraš, making them the third largest shareholder, after Mesna Industrija Braća Pivac (30.73%) and Kraš ESPO (18.45%). It is worth noting that last week, KSL published a document, stating that they do not have an intent on announcing a voluntary takeover bid.

To read more about Kraš click here.