Company "Ardos Holding" will have to sell excess stocks of "Novosti"

The Head of the Securities Commission, Milko Štimac, announced that Austrian company "Ardos Holding", which bought 27% of stocks of company "Novosti", would be ordered to sell 2% of stocks that exceeded the allowed limit on the stock exchange by the end of the week.

- When some foreign company buys more than 25% of stocks, which is allowed by the Law, if the conditions are created, it can present the offer for takeover - said he, adding that that is not the case with "Novosti".

- In this case, there are no conditions, because the stocks of "Novosti" did not appear on the stock exchange for three months, so that the Austrian company will have to sell excess stocks and if it refuses to do so, it will be deprived of the voting right - said Štimac.