Adris set aside HRK 58 million for the purchase of its own shares, and announced new investments

first_imgBuying treasury shares in the treasury is a common practice in developed financial markets. “Greater activity in the capital market, including the repurchase of treasury shares, will balance the market price of Adris shares and their fundamental value, thus reflecting the real value of the company. In this way, the company shows concern for the value of the capital of its shareholders. ” stand out from Adris. Based on the received offers, and in accordance with the Treasury Repurchase Program and the published invitation, the Management Board of Adris Group decided to repurchase 54.938 ADRS shares and 65.688 ADRS2 shares, for which it will allocate a total of HRK 58 million. Following the transactions, the Adris Group holds 149.820 treasury shares of the genus ADRS, which represents 1,55 percent of shares of that genus and 321.015 treasury shares of ADRS2, or 4,73 percent of shares of that genus. Thus, Adris has a total of 470.835 treasury shares, which represents 2,87 percent of the Company’s share capital. RELATED NEWS: Thanks to its successful business, Adris has a strong financial position and high investment potential. “There are also real financial possibilities for pursuing a growing dividend policy and implementing a new five-year investment cycle worth almost three billion kuna. In addition to organic growth, it is realistic to expect new acquisitions. ” conclude from Adris.last_img read more

Russia Increases World Cup Budget

first_imgRussia has increased the budget for the 2018 World Cup by $600 million, according to a decree published on the government’s official site on Monday.The decree said that the overall cost for the preparations for the tournament will rise by 5.4 per cent – from 643.5 billion rubles to 678 billion rubles.Russia’s federal budget will allocate 390 billion rubles, while 91.9 billion rubles will come from the regional budget. The rest will come from companies and sponsors named as “legal entities” in the decree.Russia already increased the World Cup budget in May by 4.7 billion rubles after slashing it by 30 billion rubles in June 2015 in the wake of the economic crisis.The competition will be played in 12 stadiums in 11 cities from June 14 to July 15 next year.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more