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11 July 2012

Zavarovalnica Tilia d.d. Adopts Resolution on Squeeze-out

Pursuant to the Rules of the Ljubljana Stock Exchange, d.d., Ljubljana and the Market in Financial Instruments Act, Sava Reinsurance Company d.d., Dunajska 56, 1000 Ljubljana, hereby announces the following information: 

In the General Meeting of Shareholders of Zavarovalnica Tilia d.d. held yesterday, a resolution was passed on the transfer of Tilia minority interests to majority shareholder Sava Reinsurance Company d.d. (99,71%) against adequate compensation. The majority shareholder will compensate 244 eligible minority shareholders with 70,53 euro for each Tilia share, a total of 121.100 euro for 1.717 shares. 

Upon entering the resolution on the share transfer in the register of companies, all shares of minority shareholders will be transferred to the majority shareholder. Following the squeeze-out of minority shareholders, Zavarovalnica Tilia will be wholly owned by Sava Reinsurance Company. 

No challenging actions were announced in the General Meeting. 

This announcement will be available on the Company’s website at www.sava-re.si, at least five years from the date of the announcement.