December 18 (SeeNews) - Croatian luxury clothing producer Varteks [ZSE:VART] said its shareholders have rejected a proposal to delist its 5,026,686 shares from the Zagreb Stock Exchange (ZSE).
The shareholders voted on the delisting proposal on December 15, when they also rejected a proposal to allow the management to acquire the company’s own shares, Varteks said in a filing to the Zagreb bourse on Friday, without elaborating further.
The ZSE has put the company’s shares in the segment for monitoring since November 7, when the delisting proposal was first announced.
Individual investor Marko Vucijevic is the largest shareholder in Varteks with a stake of 24.91%. A Varteks share has a nominal value of 10 kuna ($1.45/1.33 euro).
According to ZSE data, Varteks shares last traded on December 14, when they closed 6.67% lower at 0.28 euro.
($ = 0.915 euro)