Ruling by the Commercial court in Varaždin
Pursuant to the Capital Market Law and the Rules of the Zagreb Stock Exchange, and continuing on the auction of shares MRNA-R-A in the extrajudicial settlement of Podravka Inc. which was scheduled for Monday, 25 th August 2014, we hereby inform you of the following:
On 20th August 2014, company Stog d.o.o. filed against Podravka Inc. to the
Commercial court in Varaždin a new proposal - to determine a temporary measure and ensure non-financial claim, with the purpose of preventing the auction scheduled for Monday.
Today the Commercial Court issued a Ruling R1-70/14 on the submitted proposal, which you will find attached to this notice. This Ruling completely rejects the suggested proposal.
As it is evident in the Ruling explanation, the Commercial Court in Varaždin has ompletely adopted the arguments of Podravka Inc. where the following is stated:
- that the lawful holder of shares in question, as it was at the moment of contracting lien and as it is today, is Pluris d.d., and not Stog d.o.o.;
- that the lien on shares of Mirna d.d. has been lawfully based in favour of Podravka Inc.
- that under no legal provisions could have Stog d.o.o. been a lawful holder of shares in question;
- that Podravka Inc. had no reason to suspect that Pluris d.d. was the lawful holder of shares in question, at the moment of contracting lien;
- that contracts on lien with Podravka Inc. are valid, even in case that contractual parties of the lien contract consciously disposed with a third party's property - and which was undoubtedly determined that this was not the case;
- that Podravka Inc. has a legal right to choose whether it will be settled extrajudicially or judicially.
