Istrabenz Holding Company d.d. (Plc) is hereby informing the interested public that the banks creditors approved the Business plan of Istrabenz Holding Company d.d. for 2010 which was confirmed by the company's Supervisory Board at its regular session held on February 2, 2010.

According to the above-stated Business plan, Istrabenz d.d. will sell approximately 100 million euros of assets in 2010. The net profit for 2010, to amount to 44.5 million euros, will be mainly a consequence of a surplus resulting from the sale of company’s property.

In line with the compulsory settlement plan, the company's debt towards the banks will decrease by 85 million euros in 2010. At the end of 2010, the company's equity is expected to amount to 73 million euros, with a financial debt totalling 364 million euros.

Pursuant to the above-stated Business plan, in 2010 the company Istrabenz plans to sell the non-core assets, some investment property, financial investments, securities as well as interests held in some subsidiary companies. At the same time, the company will begin with preparation activities required for the evaluation of possibility to eventually sell the interests held by Istrabenz d.d. in all subsidiary companies.

As already stated within the financial restructuring plan, the entire company's property will be intended for the repayment of the creditors, with priority given to the property that the company will be able to realise (sell) prior to the expiration of determined instalment payment deadline and which will bring about optimal effects either from the perspective of the type of property or the time required for its disposal.

 

Management Board
of the holding company Istrabenz, d.d.