Adria Airways Shares Paid Up in Share Capital Increase Process
On 19 January 2016, Slovenian Sovereign Holding (SSH) informed the public on successful completion of negotiations for the sale of 91.58% Adria Airways Stake. The SPA Agreement includes a prior share capital increase by the Republic of Slovenia (RS) in the amount of EUR 3.1 million and a share capital increase by the buyer, 4K Invest (through 4K KNDNS GmbH) in the amount of EUR 1 million.
On 8 March 2016, on the basis of the Shareholder Resolution passed by the Adria Airway's General Meeting of Shareholder of 19 January 2016, the amount of EUR 3.1 million has been paid up by RS in the share capital increase process, and the amount of EUR 1 million has been paid up by 4K KNDNS GmbH), in accordance with the Shareholder Resolution. By paying up the additional capital both by RS and by the buyer, a stable operation will be ensured for the company, and by selling the company, its further development under private ownership will be provided for, thus establishing foundations for the preservation of long-term effects for retaining a Slovenian national air carrier.
It is expected by SSH that the transaction will be finished in March 2016.