After the decision on the entering of the increase in share capital into the Court Register became final, the put option on 'new' shares of Zavarovalnica Maribor d.d. held by Pozavarovalnica Sava d.d. (Sava Reinsurance Company), which was entered into between Pozavarovalnica Sava d.d. and Nova KBM d.d. on 23 October 2009, also became effective.
The subject of the put option is the right of Pozavarovalnica Sava d.d. to sell Zavarovalnica Maribor d.d. shares, up to the number of shares acquired by Pozavarovalnica Sava d.d. in the capital raising, i.e. 1,558,048 shares. The strike price of the put option is €4.1729 (share offer price in the last capital raising of Zavarovalnica Maribor d.d.) plus 10.5% per annum, starting to accrue as of the date of entering the capital increase in the Court Register.
Pozavarovalnica Sava d.d. may exercise its put option as from 1 April 2010 up until three years after the registering of ownership on the respective shares
