In the press releases of 25 and 26 October 2012, Sava d.d. informs the shareholders and the public that the company management signed the contract on selling the Rubber Manufacturing division with the selected strategic partner, the Czech rubber manufacturing holding ČGS a.s., and the purchase money of €69.4 million will be transferred after the suspensory conditions defined in the contract are met.
Read more...At its 6th regular meeting held on Wednesday, 27 March 2013, the Supervisory Board of the joint stock company Sava d.d. dealt with and adopted the audited annual reports of the Sava Group and Sava d.d. for 2012. It adopted a report by the Supervisory Board on the annual reports of the Sava Group and Sava d.d., which includes a review of business and work of the Management Board of Sava d.d. in 2012.
Read more...On 30 April 2013, the 19th regular Shareholders' Meeting of the joint stock company Sava was held in the Hotel Golf in Bled.
Read more...At its 7th regular meeting the Supervisory Board was informed about the business operations of the Sava Group and Sava d.d. in the period January-March 2013. In the adverse economic circumstances of this year, the companies of the Sava Group continue to implement the strategy of business-financial restructuring until the end of 2014. In the first quarter Sava d.d. generated a total profit of €24.8 million, while the total profit at the level of the Sava Group amounted to €0.2 million.
Read more...On 23 July 2013, the Management Board of Sava d.d. has efficiently finalised the process of concluding the so-called Master Restructuring Agreement with the organiser, the agent and the collateral agent of the bank consortium (Nova Ljubljanska Banka d.d.), and other lending banks. The subject matter of the Agreement shall be restructuring of current credit obligations of Sava d.d. until December 2014.
Read more...In its 1st correspondence meeting, which was finished on 1 August 2013, the Supervisory Board of Sava d.d. confirmed the proposal by the Management Board on further decreasing the number of Management Board members, which is in accordance with the dynamics of implementing the key phases of the business-financial strategy of Sava until 2014 and the option provided in the Articles of Association.
Read more...At yesterday’s, 8th regular meeting, the Supervisory Board was informed about the business operations of the Sava Group and Sava d.d. in this first half-year and a regular monthly report on the operations in the period January-July 2013. In the adverse circumstances of this year, the Sava Group companies continue to implement the business-financial restructuring strategy until the end of 2014.
Read more...Under the loan obligations restructuring agreement concluded this July, Sava d.d., also made a commitment to trying to agree on the identical conditions for restructuring its financial obligations with the holders of the SA02 bonds. Based on the commitments given by Sava d.d., the holders of the SA02 bonds received a proposal of a written decision, which defines the proposed change in the bonds components with a request to confirm the written proposal, thereby expressing their agreement with the changed provisions and terms concerning the bonds. The proposal refers to a lower interest rate and that the same as agreed with the banks for bank loans restructuring, among other things.
Read more...Yesterday, on 8 October 2013, the term for confirming the written decision, which defines the proposal by Sava d.d. to the holders of the SA02 bonds with regard to changing the provisions and conditions for the bonds based on the written proposal submitted by Sava d.d., expired. As already publicly announced, the proposal refers to a lower interest rate, among other things, and that the same as agreed with the banks under the restructuring agreement for bank loans.
Read more...Based on the commitments from restructuring the financial obligations with the lending banks, Sava d.d. has proposed to all holders of the SA02 bonds to adopt in accordance with the provisions of the Terms for SA02 Bonds, the Written Decision, based on which the components of bonds will change for their terms and conditions to equal the restructured bank loans. The bonds holders voted on adopting the proposed Written Decision until 8 October 2013.
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