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Terme Čatež AGM approves sale of Marina Portorož (adds)

Čatež ob Savi, 02 September (STA) - The shareholders of spa operator Terme čatež approved the sale of Marina Portorož to MMNT on Friday. The joint venture established by investment company Adventura Holding and Glen, a company owned by the management of furniture retailer Lesnina, is to pay EUR 21.6 million for the country's biggest marina, paper Finance reported.

Minutes of the AGM, available on the web site of the agency for public records (AJPES), show that the sale of Marina Portorož received the backing of 99% of all votes present at the meeting. The AGM was attended by 98.9% of capital with voting rights.

The AGM also approved a division and takeover contract between Terme Čatež and Marina Portorož under which just under EUR 40 million in assets will be transferred in the takeover and a similar amount in liabilities.

Among other things, about EUR 33.5 million worth of property is to be transferred, as well as a 7.4% stake in DZS, the biggest owner of Terme Čatež.

The AGM also gave a new mandate to supervisors Ada de Costa Petan, Robert Krajnik, Rok Gorjup, Mitja Grum, Samo Roš and Goranka Volf. The supervisory board also includes three employee representatives.

The shareholders moreover decided not to cover EUR 5.5 million in loss, which several small shareholders intend to challenge.

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