Today Croatian Telecom has executed the largest share buyback transaction in its history. Our share buyback strategy clearly demonstrates our strong focus on value creation to our shareholders.
Pursuant to Article 474 of the Capital Market Act, Croatian Telecom Inc. (“HT Inc.” or “the Company”) hereby notifies that in line with the Treasury Share Buyback Programme as of 28 April 2021, the investment company Interkapital vrijednosni papiri d.o.o. made the following acquisitions of Company (treasury) shares in the name and on behalf of the Company at the regulated market of Zagreb Stock Exchange (ZSE):
Following these acquisitions, HT Inc. holds in total 866,830 treasury shares, representing 1.082894% of the Company’s issued share capital. Share capital amounts to HRK 10,244,977,390.25, and is divided into 80,047,509 shares without nominal value.
Above stated treasury share buyback was executed in accordance with the decision of the General Assembly as of 23 April 2021, on granting authority to the Management Board to acquire Company’s (treasury) shares on behalf of the Company and to dispose of them in line with the provisions of the Companies Act and other applicable regulations. In the process of acquiring and managing of Company’s shares the Management Board is empowered not to comply with the provisions of Article 211 and Article 308 paragraph 2 and 4 of the Companies Act. The Management Board is authorized to act in accordance with the Article 352 paragraph 3 item 3 of the Companies Act and withdraw the shares without nominal value without the share capital of the Company being decreased, in which case the remaining shares’ participation in the share capital is increased, and to align the information on the number of shares in the Articles of Association of the Company.
In the year 2021, the Management Board withdrew 718,720 Company shares without nominal value, without the share capital of the Company being decreased; thereby the total number of shares has decreased from 80,766,229 shares to 80,047,509 shares without nominal value, which has been entered into the register of the Commercial Court in Zagreb on 30 July 2021.