Auction for sale of "Udarnik" on August

Privatization Agency has announced public invitation today (June 30, 2008) for sale of 53% of capital of socks factory "Udarnik" from Zrenjanin on auction on August 22 at starting price of 18.8m RSD.

According to the public invitation, published in Belgrade's "Politika", deposit for participation in the acution amounts to 9.4m RSD, and the buyer is obliged to invest at least 27.1m RSD.

Deadline for submission of applications for participation in the auction is August 14.

The property that is offered for sale is estimated to 117.5m RSD (1.49m EUR).

"Udarnik" uses 1.6 ha of state-owned land, 1.53 ha of which is building land, while agricultural land is at 618 square meters.

The factory has production halls, warehouses and accompanying facilities at 11,405 square meters, administrative building at 623 square meters and a store in New Belgrade at 14 square meters.

"Udarnik" has 205 workers and it ended the last year with the loss amounting to 82m RSD, while the incomes amounted to 162.28m RSD.

"Udarnik" has 14,526 stocks, that is, 24.4% of capital, while 75.6% of stocks are public property, which is not a stockholding capital.

The stocks of "Udarnik" on the Stock Exchange can not be the subject of trade starting from June 23, 2008, and, so far, none stock has been sold. The price is 1,539 RSD per stock, and their total market value is 22.36m RSD.