"Yuco hemija" announced offer for 30% of stocks of Hotel "Prag" - deadline for bids is July 15

Company "Yuco hemija" from Bački Jarak announced today (June 25, 2009) the bid for takeover of remaining 30.6% of stocks of Belgrade-based hotel "Prag" for total of 133m RSD.

According to the ad published in newspaper Politika, the bidder intends to purchase 164,042 stocks of Hotel "Prag" at the price of 813 RSD per stock.

The bid will be opened prior to July 15, 2009.

The current price of stocks of Hotel "Prag" on the Belgrade Stock Exchange is 715 RSD, while the highest price of securities over the last year amounted to 813 RSD.

Company "Yuco hemija" directly owns 25% of stocks of Hotel "Prag". Together with connected companies "IB investment" and "Arious limited", it owns 69.4% of stocks.

According to the data provided by the Central Securities Registry, 26.5% of stocks are owned by Tomislav Đorđević, while remaining about 0.9% of stocks are in the possession of minor stockholders.

Belgrade-based Hotel "Prag" was privatized in July 2007, while the refurbishment of that three-star hotel with 116 rooms is in progress.

According to the data provided by the Business Registry Agency, the profit of Hotel "Prag" in 2008 amounted to 2m RSD, business incomes amounted to 79.8m RSD, and the hotel's capital was estimated at 126.5m RSD.