Notice of Termination of the Share Subscription Agreement regarding Paloma capital increase
The Slovenian Sovereign Holding has received from PPRS Holdings Limited (the company is owned by funds managed by Abris Capital Partners Limited) the courtesy copy of the Notice of Termination of the Share Subscription Agreement which was concluded by and between Paloma, d.d., and the selected investor in the share capital increase process.
The share capital increase process was run by Paloma, d. d., in cooperation with a financial and legal advisor. It is expected by the Slovenian Sovereign Holding (hereinafter refereed to as: "SSH") that, in spite of the withdrawal of the selected investor, all options for the successful completion of the share capital increase process will be examined by the Paloma's Management Board.
In case the share capital increase process fails to complete successfully, SSH will initiate the process of the sale of Paloma shares owned by SSH. In this case, prior to the process initiation, all preparatory activities will be carried out by SSH which are needed for the initiation of the sales process (the company's valuation and due diligence). It is assessed by SSH that all preparatory activities may be completed by the beginning of September. In accordance with the provisions of the Slovenian Sovereign Holding Act and the SSH Asset Management Policy, following the preparatory activities, the sale of shares by public auction is planned to be carried out by SSH. The auction of shares is carried out as a public sale under previously determined terms and conditions. In this case, the text of the public auction will be published in domestic and foreign media and all potential investors who have already expressed their interest for the acquisition of Paloma will be contacted.