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Notification by ZMM Bulgaria Holding AD, a subsidiary of Industrial Holding Bulgaria PLC, on the intention to register a tender offer for the purchase of the shares of the rest of the shareholders of IHB Elektrik AD

23 May 2017 | 15:45

On 23.05.2017 ZMM Bulgaria Holding AD, a subsidiary of Industrial Holding Bulgaria PLC, notified to the rest of the shareholders of IHB Electric AD, UIC: 000620115, to the Financial Supervision Commission and the Bulgarian Stock Exchange - Sofia AD, for an intention to register a tender offer under Art. 149a, para. 1 of the Public Offering of Securities Act (POSA) for the purchase of the shares of the rest of the shareholders of IHB Electric AD.

ZMM Bulgaria Holding AD owns 93.96% of the capital of IHB Electric AD as of the date of the notification.

Date on which ZMM Bulgaria Holding AD expects to register the tender offer with the Financial Supervision Commission - 04.09.2017.

The intentions of ZMM Bulgaria Holding AD on the future activity of IHB Electric AD, after the management of IHB Electric AD resolved in the beginning of 2017 on discontinuing the manufacture of electric machinery, currently part of the company’s product range and completing all ongoing projects and orders accepted, will be related to seek opportunities for directing the company's activities in new directions, while the company continues to provide guarantee and post-guarantee services for the manufactured machines.

Following the implementation of the tender offer ZMM Bulgaria Holding AD intends to take action for deregistration of IHB Electric AD from the register under Art. 30, para. 1, item 3 of the Financial supervision commission act.

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