HANFA-Croatian Financial Services Supervisory Agency 24b Miramarska Street 10000 ZAGREB
HANFA-Official Registry of Prescribed Information
Zagreb Stock Exchange 2a Ivana Lučića Street 10000 ZAGREB
Croatian News Agency [email protected]
Poreč, 27 October 2016 File no: 1-97/16
Subject: Notice of the Supervisory Board Session Held and Decisions
Valamar Riviera d.d. with registered office in Poreč, 1 Stancija Kaligari, personal identification number (OIB): 36201212847 (hereinafter: the Company) in compliance with Article 121 of the Rules of the Zagreb Stock Exchange, Article 459 of the Capital Market Act and Article 2 of the Ordinance on Disclosure of Privileged Information which are directly related to the issuer and determine the issuer's justified interests in terms of nondisclosure, hereby informs on the Supervisory Board session held on 27 October 2016 with the following agenda:
- The consolidated and separate financial reports of the Company for the period 1 January- 30 September 2016 (including the third quarter of 2016) were discussed. The said financial reports will be presented within the time limit as prescribed by pertaining regulations.
- The Supervisory Board approved the conclusion of the credit agreement for financing the investment cycle 2016/2017 with the Croatian Bank for Reconstruction and Development in the amount of EUR 43.63 million in HRK equivalent, maturing by end of 2034. The said funds will be used for the planned investments in improving the quality of accommodation and services in the Valamar Girandella Resort 4* in Rabac and investments in the Ježevac, Krk and Škrila campsites on Krk Island and a facility which will be used as accommodation for seasonal employees. In addition, the Supervisory Board approved the credit agreement with Raiffeisenbank Austria d.d. Zagreb for the amount of EUR 38 million, maturing in 2025. The said funds will be used for financing the investments in improving the quality of accommodation units and creating new facilities, amenities and products in Family Life Bellevue Resort 4* in Rabac, the Lanterna campsite in Poreč and Marina campsite in Rabac.
- The Supervisory Board approved the contents, statements and conclusion of the Imperial d.d. Management Contract (hotel management contract). The relevant contents of this Contract will be available in the Invitation to summon the General Assembly of IMPERIAL d.d. Rab, pursuant to pertaining regulations.
Valamar Riviera Management Board