J&T guarantees return of TMR shares
2011 / 2010
BRATISLAVA - (May 18, 2011) - J&T FINANCE GROUP a.s. published “Public offer to purchase of Tatry mountain resorts, a.s. shares” with the return of 7% p.a. They are acting in accordance with the guarantee announced on May 18, 2010. In case of dissatisfaction with the share price development the guarantee will be materialized via purchasing of the TMR shares in a volume of EUR 20 million per year within next 3 years.
Only a shareholder, who holds his shares for period at least 6 months by this time, i.e. since November 18, 2010, could react on this public offer and offer his shares. Price for which shares will be bought by J&T FINANCE GROUP a.s. is set at 41,766 EUR, which will ensure to shareholders a total return of TMR shares 7% p.a. (TMR share price growth since the guarantee announcement plus dividend yield).
Since publishing this public offer (May 18) the interested persons will have two weeks to realize the sale of shares. They have to send the signed proposal of the Contract of securities purchase on June 3, 2011at latest. The date stamp of dispatching mail is decisive.
The proposal of the Contract of securities purchase is available at www.jtfg.com. The signature of person interested in sale of TMR shares has to be officially certified on the Contract. The fees concerning the share transfer will be charged by particular contracting party on its own. JTFG will satisfy persons interested in selling their shares consecutively till expiration date for submitting the offers respectively before exceeding the limit EUR 20 mil. In case of delivering more proposals of the Contract at once and the limit 20 mil. EUR will be exceeded the same day, JTFG will satisfy persons interested pro rata.
The guarantee of buyback TMR shares with return of 6 – 8% p.a. within three years announced JTFG company in May last year to support the investors confidence in Slovak capital market. The co-founding partner of J&T, Patrik Tkáč, as the reasons, why the Group decided to offer such an extraordinary guarantee, mentioned: “The guarantee of buyback TMR shares and transparent presentation of our intentions in this Group is the next step how to support the confidence in capital market. TMR shares mean long-term investment for us, in which we see great growth potential and valuation. In the future we plan to keep TMR share in our portfolio. We are determined to invest into the Tatras´ development and hereby to endeavour to revive them.”As of today, J&T Finance Group owns approximately 20% of TMR shares.
J&T Finance Group is focused on offering complex services followed by private banking, administration of private clients and institution properties, investment banking and project financing. Its services develop on markets in Czech Republic, Slovak Republic and Russian Federation mainly. More information available on http://www.jtfg.com
Author: Nikol Kubaská - Spokesman, head of PR department
This English document is a faithful translation of the original Slovak version, but should not be considered as completely accurate due to the unavailability of English equivalents for certain Slovak terms. Consequently, this English document is intended for general information only.
Public announcement (109 kB)