November 7 (SeeNews) - Croatian luxury clothing producer Varteks [ZSE:VART] said on Tuesday its shareholders will vote on December 15 on a proposal to delist its 5,026,686 shares from the Zagreb Stock Exchange (ZSE).
Those who disagree with the proposal will be eligible to a fair compensation for their shares, Varteks said in a filing to the Zagreb bourse without elaborating on the reasons for the intended delisting.
Following the announcement of the delisting proposal, on Tuesday the ZSE put the company’s shares in the segment for monitoring.
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 ($1.42/1.33 euro).
Varteks said earlier that its consolidated net loss narrowed to 2.4 million euro ($2.6 million) in the first six months of this year, from almost 3.0 million euro in the same period of 2022.
According to ZSE data, Varteks shares last traded on October 30, when they closed flat at 0.35 euro.
($ = 0.936 euro)