A day after the announcement of the improved takeover bid and the prospectus for the purchase of shares of Austrian ADDIKO BANK, published by Slovenian NLB bank on Monday evening, the President of VZMD, Mr. Kristjan Verbič, addressed a request to the CEO of NLB, Mr. Blaž Brodnjak, for comprehensive explanations and answers to the questions from the letter "ADDITIONAL QUESTIONS: NLB / Addiko Bank AG takeover bid," received from the President of the Austrian Shareholders' Association (IVA), Mr. Florian Beckermann.
In his letter, President of IVA, Mr. Florian Beckermann, turns to his Slovenian colleague, Mr. Verbič, requesting VZMD to assist in obtaining the quickest and most adequate response, as IVA assesses the current situation regarding the potential takeover as quite complex and insufficiently transparent. Consequently, due to the absence of some crucial information, shareholders of the target company are experiencing considerable uncertainty.
Mr. Beckermann summarizes the questions of individual investors and small shareholders of the Austrian ADDIKO BANK:
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NLB´s bid is limited to a minimum of 75% acceptance of the shareholders. Even if shareholders accept the bid, it is not foreseeable whether you would reach that threshold. Why NLB isn’t lifting this condition?
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Addiko Bank is a success story. Increasing dividends, market grow, a high digitalization quota and approx. 42 EUR per share book value are arguments for shareholders to keep their shares and preferring an independence of the bank. What are NLB’s plans with minority shareholders and the listing at the Vienna Stock Exchange?
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With a potential acquisition of Addiko Bank AG, NLB is aiming into the Croatian banking market. The history of the Slovenian/Croatian banking industry isn’t free of conflicts. Especially Croatian savers were subject here. How NLB will manage the legacy therein?
In his letter to the CEO of NLB, the VZMD President initially commends the vision, and current efforts aimed at the takeover of ADDIKO BANK, and the potential strategic expansion and synergies that would be in the interest of the company and its shareholders. He also expresses his belief that "appropriate and objective information – especially considering the summer season and the relatively short time until the expiration of the takeover bid(s) – can be of crucial importance and in the explicit interest of both companies and their shareholders." Therefore, he expects comprehensive responses and explanations to be provided as soon as possible. He also highlights that "we have been cooperating excellently with our Austrian colleagues from the sister association IVA for many years, and I am regularly in contact with their President – also as members of the Executive Board of the European Federation of Investors and Financial Services Users (BETTER FINANCE) – therefore, I do not doubt their good intentions and their sole desire for correct information of shareholders and the public."
VIDEO from last year's IVA Investor Conference in Vienna: https://youtu.be/RyyZho0QVlM
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