Sale of 100% Shares of Valjaonica Bakra Sevojno Announced – Initial Price EUR 12.7 Million

The company Kappa Star Limited from Nicosia, Cyprus, has announced, as the pledgee, the 100% sale of the shares of the company Valjaonica Bakra Sevojno, as reported by Glas Zapadne Srbije.

The claim is secured with a first-grade pledge on all 643,356 shares of Valjaonica owned by East Point Metals Limited, also from Cyprus.

Said pledge is listed in the Central Securities Register in Belgrade.

The sale will be carried out through a public bidding on August 20 at 11 AM in Belgrade, by a commission for public bidding, which will consist of the Belgrade-based attorney Ilija Drazic and another two members from his law office whom he designates.

The initial price at the bidding will be EUR 12.7 million, which is the amount of the estimated value of the capital of AD Valjaonica. The bidding increment is EUR 100,000, and the price is accepted by raising the card. The bidding is considered complete when no participant accepts the next increment, and the best bidder is the one who first accepts the sales and purchase price from the previous increment.

Participants are obliged to first pay a deposit of EUR 2 million.