Croatian shipyard 3. Maj to cover 2020 loss of 74.5 mln kuna (9.9 mln euro) with future profit
ZAGREB (Croatia), July 19 (SeeNews) – The management of Croatian shipyard 3. May [ZSE: 3MAJ] said that it proposing to cover the company's loss of 74.5 million kuna ($11.7 million/9.9 million euro) reported for 2020 with future profit.
The shareholders will vote on the proposal at their annual general meeting, to be held in Rijeka on August 26, the management of the shipyard said in a bourse filing on Friday.
Last year, the company's shareholders decided to cover the loss of 114.1 million kuna for 2019 with future profit.
On July 6, Croatia's Uljanik d.d. shipbuilding group which is undergoing bankruptcy proceedings said that it is inviting expressions of interest in the purchase of the entire 88.27% stake it is holding in 3. Maj shipyard. The deadline for submitting letters of interest will expire on August 27 and potential investors will be able to carry out due diligence at 3. Maj after September 13.
The shares of 3. Maj last shares traded on the Zagreb Stock Exchange on January 20, 2020, when they closed at 37 kuna, up 5.71%.