This month's execution of the agreement finalized the long-lasting, almost a year long endeavors and negotiations to jointly sell the shares of M1, d.d. – the former authorized investment company (PID) which also owns DZS, d.d., and Podjetniški center CVETLIČARNA, d.d. The VZMD conducted these delicate negotiations on behalf of 592 minority shareholders of the company with respect to the Shareholder agreement and the "Share SUPPORT" program (VIDEO). While the share quote stood at EUR 0.60 per share, and had previously varied between EUR 0.30 and EUR 0.50 until the second half of 2017, the VZMD managed to reach the selling price of EUR 1.10 per share for the selling block, which currently comprises 61,528 shares (1.57% of all shares).
The concluded purchase agreement also enables other shareholders, who have not responded to the VZMD invitations and initiatives, to join the selling package by signing up for the "Share SUPPORT" or the Shareholder agreement by the beginning of the coming week. In the company, there are another 12,410 minority shareholders, who may – given the possibility negotiated by the VZMD – jointly receive as much as EUR 413,735.30 of the purchase price. In addition, the VZMD would like to expressly warn that the interested shareholders must transfer their shares to the lawyer's trust account of the "Share SUPPORT" no later than January 25, 2019, as otherwise it might not be possible to close the sale under negotiated conditions.
The VZMD believes that they managed to agree on the best conditions for the sale during the intense negotiations, and they will also sell their own 5,589 shares as part of the aforementioned block of shares. At the same time, as is the case in joint sales, they also negotiated the “top up clause” which stipulates another additional payment if the buyer (or associated persons) buys the share at a higher price in the following 12 months.
Note that it was in May last year when the VZMD began with the endeavors and negotiations for the joint sale of minority shareholders' shares under the aegis of the VZMD. After the largest shareholder, COPARTNER, d.o.o. (88.86% of all shares), had offered a 50% premium for the block of shares in October 2018 on top of the exchange price, that is EUR 0.90 per share, they received an offer of EUR 1.00 per share in December 2018, which is a whopping 67% more than the exchange rate. Eventually, the negotiations concluded at EUR 1.10 per share (83% more than the exchange rate), which was significantly bolstered by the share selling package increase itself.
The shareholders whose shares are still deposited on the transitional or abolished registry accounts at Central Securities Clearing Corporation (KDD) may sign up for the "Share SUPPORT" by filling out the REGISTRATION FORM and TRANSFER ORDER. The registration form may be sent to the VZMD (Hrenova 13, 1000 Ljubljana, Slovenia), whereas the transfer order may be filed in person at the KDD registry (Tivolska cesta 48, 1000 Ljubljana, Slovenia) or sent by mail – in this case, the KDD may ask for additional proof of identity.
In case you need additional clarifications, please contact VZMD's information office every working day from 9 a.m. to 5 p.m., at the following phone numbers +386 1 25 11 420 or +386 31 770 771 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..
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