GORENJE (GRV): Gorenje and HIS sign agreement on divestment of majority shareholding in Publicus - raport 18

UNI - EN REPORT No18/2016

Pursuant to the provisions of the Code of the Warsaw Stock Exchange, Rules and Regulations of the Ljubljana Stock Exchange (Ljubljanska borza, d.d., Ljubljana) and the relevant legislation, the company Gorenje, d.d., Velenje, hereby makes the following announcement:

Velenje, Ljubljana, June 29, 2016 – Ekoinvest, d.o.o. – a subsidiary of Gorenje, d.d. – and the company HIS gradbeništvo in inženiring, d.o.o., which holds a 35-percent stake in the company Publicus, d.o.o., signed an agreement to divest their majority shareholding in the company Publicus, d.o.o., Ljubljana, complete with the subsidiary Ekogor, d.o.o., Jesenice.

The agreement was signed as all preconditions specified in the agreement signed on August 19, 2015, were met.

The price for Gorenje's stake in the company Publicus, including the investment into Ekogor, is EUR 3.6 million. The new owner shall take over the shareholding in the company Publicus with the entry into the register; at the same time, the new owner shall assume all liabilities of the two companies while Gorenje will, after receiving the purchase amount, deleverage by EUR 6.5 million.

Gorenje, d.d., Supervisory Board approved the divestment of the stake in the company Publicus, d.o.o., Ljubljana at the correspondence session held between July 20 and 23, 2015.

Disclaimer: The English text for all announcements is for information purposes only!

The information included in this announcement will be available at the official website of the company Gorenje, d.d., Velenje, at www.gorenjegroup.com, for a period of no less than 5 years from the date of announcement.

Gorenje, d.d., Management Board