The Government of Montenegro, during a telephone session, adopted the Information on activities regarding the mandatory takeover procedure of the shares of the issuer Institute “Dr Simo Milošević” AD Igalo.
According to the Government’s statement, the Information was adopted based on obtaining the consent of the majority of members.
The Information states that the first step in implementing the Restructuring Plan was initiated by adopting the Information and signing a Joint Action Agreement between the Government, the Development Bank, the Employment Agency, the Health Insurance Fund as one party, and HTP Vila Oliva as the other party. Additionally, a decision was made on the takeover of the Institute, based on which these shareholders, holding a combined 85.66% of the Institute’s capital—equivalent to 327,510 shares with voting rights—express interest in acquiring the remaining 54,850 shares not owned by the signatories.
The Joint Action Agreement and the decision were signed on July 3, and the Capital Market Commission and the Institute will be notified within two days of signing. Furthermore, the decision will be published in two print media outlets distributed throughout Montenegro within four working days of signing, in accordance with the Law on Takeover of Joint Stock Companies.
