NEWS

An open invitation for bids for the as-is purchase of tank cars

An open invitation for bids for the as-is purchase of tank cars

Learn more

PROFIT IN THE FIRST QUARTER

In the first three months of 2019, Petrokemija d.d. made net income of HRK 22 million, compared to HRK 79 million net loss in the same period last year.

The sales volume and sales structure are the main promotors of better results compared to the same period of 2018. Total sales volume rose by 31 percent and revenue grew by 44 percent, thanks to good results in Croatia and in regional markets.

Learn more

GENERAL ASSEMBLY POSTPONED

 

General Assembly of Petrokemija Jsc., which was scheduled for today, was not held due to the lack of quorum. All that the General Assembly should have concluded today at today’s meeting which is postponed, will be found on the General Assembly agenda to be held on 31 October, 2018. The agenda as well as the proposals of decisions stay unchanged.
All the activities of the Management Board and the Supervisory Board related to the recapitalization process take place in accordance with the planned procedures, and currently, final reviews of regulatory bodies for the area of market competition of European Commission and other countries in the region are expected.
Production facilities of Petrokemija Jsc. are in full operational mode, continually providing sufficient amount of mineral fertilizer for partners in the country and in export. 

Learn more

Continued natural gas supply from INA d.d.

The Company Management Board informs the general public that as of Monday, 29 January 2018, INA d.d.continues  the natural gas supply for Petrokemija d.d. Mineral fertilizer production plants are operating at full capacity according to production plans.

Learn more

Regular production and delivery of mineral fertilizers

Concerning the decision of INA d.d. to temporarily suspend natural gas supply to Petrokemija d.d. the Management Board of the Company, with the approval of the Supervisory Board, has performed the necessary activities to ensure regular gas supply.

Learn more

INA d.d. STOPS NATURAL GAS SUPPLY

In accordance with the provisions of the Capital Market Act and the Rules of the Zagreb Stock Exchange, we would like to inform the public that as of tomorrow, 18 January 2018, INA d.d. will suspend natural gas supply to Petrokemija d.d. due to the billing problem of the so-far delivered volumes.

Learn more

CHANGES IN THE COMPANY MANAGEMENT BOARD

The Supervisory Board passed a decision on terminating the mandate of a member of the Management Board, Mr. Nenad Zečević as of 2 January 2018.

As of 3 January 2018, the Board of Petrokemija d.d. acts as a two-member management that consists of Đuro Popijač, MS - President of the Management Board and Davor Žmegač, MS - Member of the Board. 

Learn more

Decisions of the Company General Meeting

The General Meeting of Petrokemija, Plc. was held on 11 December 2017 at the Company headquarters. It was attended by 3.737.769 votes or 87,14% of the total 4,290,393 votes.

Learn more

General Meeting Invitation

Management Board of Petrokemija d.d. adopted the Decision on convening and invites you to participate in the work of Extraordinary General meeting of Petrokemija d.d. Kutina that will be held at the Company headquarters on Monday 11 December 2017 at 12.00 hrs.

You can download an invitation to the Extraordinary General Assembly here

Learn more

All facilities in operation

After successful repair of a technical failure of electricity supply due to the drop-out of the 110/10 kV transformer, all plants for mineral fertilizer production are in regular operation, according to production plans.  

Learn more

Notification of Changes in the Court Register

In accordance with the provisions of the Capital Market Act, the Companies Act and the Rules of the Zagreb Stock Exchange, we announce that the Zagreb Commercial Court, pursuant to the Decision of the Court under business number Tt-17 / 39155-2 of 18 October 2017, entered into its Court Register the decision on simplified reduction of share capital and change of the provisions of the Articles of Association of Petrokemija d.d. Fertilizer Company, based in Kutina, Aleja Vukovar 4, in a register insert with company number (MBS) 080004355, ID (OIB) 24503685008.

By the decision of the General Meeting of 11 October 2017, in order to cover the losses from the previous period and to lower the value for the purpose of remedying the company, the Company share capital was reduced from HRK 386,135,400.00 by the amount of HRK 343,231,470.00 to the amount of HRK 42,903,930.00.

Due to the reduction of the share capital and the reduction of the nominal amount of the share from HRK 30.00 to HRK 3.333, merging of three shares of HRK 3.333 nominal value was executed for the purpose of rounding up the nominal share value to the amount of HRK 10.00, so the individual nominal share value after the reduction of share capital is HRK 10.00.

In accordance with the decision of the General Meeting of 11 October 2017, the Management Board of the Company is obliged to conduct the reduction of the share capital.

Learn more

Production stoppage

Late afternoon on Monday, there was an interruption of electricity supply due to the drop-out of the 110/10 kV transformer at the Electricity Distribution plant, which caused the shutdown of all production facilities. Repairing the failure is in progress and a part of the production facilities has started up. Petrokemija will report on the restart of the entire production later.

The temporary stoppage of the mineral fertilizer production plants will not negatively affect the end-users in agriculture since Petrokemija has sufficient reserves of mineral fertilizer to supply the domestic and regional markets with all types of fertilizers until the production is resumed.

Learn more

Decisions of the Company General Meeting

The General Meeting of Petrokemija, Plc. was held on 11 October 2017 at the Company headquarters. It was attended by 11.213.856  votes or 87,12 %  of the total 12,871,180 votes.
The General Meeting adopted the following decisions: 
• Decision on simplified reduction of the Company share capital by merging of shares (Item 2. of the Agenda)
• Decision on amendment of the Articles of Association (Item 3. of the Agenda) in accordance with the decision proposals attached to the Invitation to the General Meeting published on 1 September 2017 on the website of the Zagreb Stock Exchange, HINA and Petrokemija, Plc., as well as in the Official Register of Prescribed Information (Hanfa) and Court Register.

Learn more

Additional time for due diligence

Following the Invitation for Bids for recapitalization of Petrokemija d.d., in the deadline, 22 September 2017, stated in the Invitation, the Company received binding offers from several interested bidders. The potential investors' offers were submitted to the Restructuring and Sale Center and the State Property Ministry for further proceedings. Based on the approval of the Supervisory Board and the Restructuring and Sale Center, the Company will provide additional time in the period from 4 to 23 October 2017 for due diligence process for potential strategic partners and investors who have submitted bids for participation in recapitalization in the restructuring process of Petrokemija.  

Learn more

Information on completion of bidding process

Following the expressed indicative interest in the recapitalization of Petrokemija d.d., due diligence analyses of the Company were carried out by interested potential investors from 10 July to 31 August 2017. After the analyses were completed, the investors were invited to submit binding bids in accordance with the Restructuring Program of Petrokemija d.d. - Concretization of the proposal of the restructuring concept by recapitalization with a private investor, by September 22, 2017. By the deadline stated in the Invitation and in the notice of extension of the bidding deadline,  the Company has received binding bids from several interested bidders. Potential investors' offers were submitted to the Restructuring and Sale Center and the State Property Ministry for further proceedings.

Learn more