AI assistant
Valamar Riviera d.d. — Capital/Financing Update 2017
Dec 1, 2017
2085_iss_2017-12-01_aeb60da7-e7a2-4794-9ee0-bbd7a4e98676.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
HANFA- Croatian Financial Services Supervisory Agency 24b Miramarska Street 10000 ZAGREB
HANFA – Official Registry of Regulated Information
Zagreb Stock Exchange 2a Ivana Lučića 10000 ZAGREB
HINA – Croatian News Agency [email protected]
Poreč, 1/12/2017 File no: 17-87/17
Subject: Notification of final approval to 2018 investments
Pursuant to 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 Non- Disclosure, Valamar Riviera d.d. with registered office in Poreč, 1 Stancija Kaligari, personal identification number (OIB) 36201212847 (hereinafter: the Company) hereby informs that the Supervisory board of the Company has given its final approval to 2018 investments totaling HRK 632.96 million.
As previously announced, 2018 investments represent the continuation of the company strategy to reposition the portfolio towards products and services with high added value. The investments will also increase further the quality and accommodation capacity for seasonal employees. The Company plans to complete Valamar Girandella Resort in Rabac in 2018 where the first 5* Kinderhotel in Croatia will be opened, thus expanding the family-oriented portfolio segment. Valamar's large strategic investments in premium camping will continue in Istria and on Krk Island. Investments in Dubrovnik are focused on creating additional hotel amenities at Valamar Argosy. Investment plans also include numerous projects for guest amenities and increasing energy efficiency.
Valamar Riviera d.d.