Following the 17 March announcement pertaining to the 7% of T-Hrvatski Telekom (T-HT) earmarked by the Government of Croatia for sale to present and former employees of THT, the Company today announces the Government’s confirmation as to the terms and method of purchase, as well as defining the conditions for lock-up periods applicable to present and former employees who take up all or part of their allocated shareholding.
The Government has decided that past and present T-Mobile employees will be eligible to subscribe for shares, in addition to present and former employees of the Company and Hrvatske pošte d.d. and former employees of Public Enterprise for Postal and
Telecommunications Traffic HPT – Croatian Post and Telecommunications.
Price and discounts
Each share will be priced at a HRK 265, the same price as shares offered in the Initial Public Offering in October 2007, with an initial discount of 5% for all subscribers. An additional discount of 1% will be offered for every full year of service.
There will be no maximum number of shares for which employees can subscribe, and in the event of over subscription, each applicant will be guaranteed a minimum allocation of 135 shares.
Furthermore, years of service will determine the minimum period for which shares purchased in the subscription must be held (the lock-in terms), as detailed in the table below.
Years of servis |
Minimum period for which shares must be held |
Less than 10 years |
12 months |
10-20 years |
10 months |
20-30 years |
8 months |
More than 30 years |
6 month |
Those subscribers who have confirmed their eligibility are invited to apply from 27 May and have 21 calendar days to complete their application. The shares will be issued within 14 working days of the closing date.