Small shareholders of Energoprojekt support takeover

The association of small shareholders of Energoprojekt unanimously supported the bid by Napred Razvoj, owned by Dobroslav Bojovic, and the persons acting alongside him for a takeover of Energoprojekt Holding a.d.

– We believe that the offered price of shares for the buyout is in line with the Law on Acquisition and that it is objective and fair – says the decision, which has been viewed by Tanjug.

Bojovic`s company Napred Razvoj and the related entities, Belgrade-based companies Napred and Montinvest Properties and the Swiss company Jopag AD from Vaduz, announced its intention for the takeover of a 64.68% stake in Energoprojekt Holding at RSD 1,501 per share. The offer is valid until the end of next week.

The members of the association unanimously estimate that the aim of the bidder is to develop and consolidate the company and its operations.

– Small shareholders employed in the companies of the Energoprojekt Holding system deem the bidder`s offer fair under the current market conditions and considering the state of the company and such that it enables a more efficient and quicker development of the company – says the decision by the managing board of the association of small shareholders, signed by its chairman, Zoran Simic.

– With a good choice of the management, we believe that everything proposed will be fulfilled – the document says and adds that this is also shown by the cooperation between Energoprojekt and the bidder on the construction of the Belgrade Arena back in the 1990s.

When it comes to the development of the company, the opinion is that “the concentration of the ownership enables the carrying out of business policy and achieving the set goals in a more efficient and easier way”.

The small shareholders “find the bidder`s offer to expand and enhance the activities and scope of the company acceptable”, and they also say that “special focus will be placed on further developing new, especially foreign markets, enabling enhanced operations”.

The realization of the strategic plans, they believe, “won`t influence the employment policy and the equal status of the workers, including their material status”.

The document also says that the association has not had any negotiations with the bidder and that there are no contracts or agreements between representatives of this association and the bidder and the related entities on the payment of compensations or other benefits for the members of this group.

Energoprojekt Holding a.d. Beograd

Napred razvoj a.d. Beograd

Napred a.d. Beograd

association of small shareholders of Energoprojekt

Jopag AG

Dobroslav Bojovic

Energoprojekt takeover

Law on Acquisition

Zoran Simic