Elektroprivreda (EPCG) announced a public call for the sale of a package of its own shares in a block transaction.
EPCG announced that the subject of the public call is the sale of 11.813.238 own shares in a block transaction.
It is stated that the minimum price is EUR 8,63 per share (investment price according to the Elaborate on the valuation of shares).
In the public call, it is stated that the selection of the most favorable offer will be carried out through a competition with potential buyers who participate according to the conditions of the public call.
Energy companies with an installed capacity of at least one thousand MW or with a share capital of at least 500 million euros, or Investment funds that are listed on the organized capital market, have a positive financial result in the last three years, capital of at least one billion euros, and investment in energy sector at least 100 million in the last five years.
"The bidder is obliged to submit an original bank guarantee with the application, unconditionally "without objection" and payable at the first call with a validity period of at least 60 days from the day of opening the bid in the amount of five percent of the investment value of its own shares from point 2 of the public call," it says. in a public invitation.
As stated, in the event that the selected candidate refuses to sign the contract on the purchase of shares, EPCG will activate it for the selected candidate.
In the public invitation, it is written that only a business entity that has not been legally convicted and whose executive director has not been legally convicted of any of the criminal offenses with characteristics of criminal association, creation of a criminal organization, giving bribes, accepting bribes, giving bribes in business operations can participate in the bidding process. , accepting bribes in business operations, evasion of taxes and contributions.
Only a business entity that has not been legally convicted and whose executive director has not been legally convicted of any of the criminal offenses with characteristics of fraud, terrorism, terrorist financing, terrorist association, participation in foreign armed formations, money laundering, human trafficking, trafficking can participate in the bidding process. to minors for the purpose of adoption, establishing a slave relationship and transporting persons in a slave relationship.
This, as added in the invitation, is proven on the basis of a certificate or certificate of the competent authority issued on the basis of a criminal record, in accordance with the regulations of the state in which the business entity has its headquarters, i.e. in which the authorized person/s of that business entity resides.
As stated, only a business entity that has settled all due obligations on the basis of taxes and contributions in accordance with the applicable legal regulations of the country where the business entity is headquartered can participate in the bidding process.
"The evaluation of offers will be carried out according to the criterion: the highest offered price per share - 100 points. If it is determined that two or more bidders have the same number of points, the bidder whose bid arrived first in time will be considered the most favorable bidder," the public invitation reads.
As it is added, the fulfillment of the conditions of the public call for the sale of a package of own shares in a block transaction will be evaluated after the receipt and opening of bids.
It is stated that untimely bids, as well as those not accompanied by the required evidence (irregular bid), will be rejected, will not be considered in the bid selection procedure and will be returned to the bidder.
"The commission for the selection of a specific buyer in the procedure of alienation of its own shares reserves the right to amend, change or cancel the public invitation at any time," the invitation reads.
As stated, in the event that the first-ranked-higher-ranked bidder withdraws from its offer, EPCG will agree to conclude a contract with the next-ranked bidder.
The public opening, which can be attended by all bidders or their authorized representatives, will be held on August 1 at ten o'clock in Nikšić.
As it is added, all participants in the tender should provide the Commission with their addresses and e-mails for receiving mail, for the purpose of receiving information and correspondence regarding the public call.
It is stated that the decision on the selection of a strategic buyer will be made by the Company's Shareholders' Assembly, based on the proposal of the Commission that conducted the sale procedure.
"In case of withdrawal from the conclusion of the contract on the purchase of shares, the bidders, neither any legal entity nor natural person will have the right to demand any compensation for damages and expenses incurred as a direct or indirect consequence of participation in the public invitation," the invitation adds.
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