Croatia Airlines is convening an extraordinary general meeting over a proposal to increase the carrier’s share capital.
It will discuss raising the share capital by €43 million ($50 million) by converting creditor claims into newly-issued shares.
The share capital would increased to €135.38 million, the airline states in its agenda for the meeting, which is scheduled for 29 December.
Croatia’s government holds virtually all the stock in the flag-carrier.
The airline states that the proposed increase in the government’s share will be based on rights associated with two loan agreements.
One of these loan deals, concluded in March 2020, was for Kn250 million – the equivalent of €33.18 million – and the other, in December 2020, amounted to €9.82 million.
Croatia’s government will participate in the share issue “as an investor”, the carrier states. Other shareholders will be excluded.
