Changes to the Triglav Group composition in 2011

 

  • In March 2011, Zavarovalnica Triglav received a decision of the District Court in Kranj on the deletion of Poslovno hotelsko stanovanjski center Štemarje, družba za poslovanje z nepremičninami in investicije d.o.o. from the Companies Register. In December 2010, Zavarovalnica Triglav acquired from other shareholders the remaining 26.49% of that company. In February 2011, as the sole shareholder, it adopted a decision to wind up the company in a simplified procedure without liquidation, following which the total assets of the company were assigned to Zavarovalnica Triglav.

  • In April 2011, Zavarovalnica Triglav received a decision of the District Court in Kranj on the deletion from the Companies Register of Turistično hotelsko podjetje Krona hoteli in drugi obrati d.o.o. At the end of 2010, Zavarovalnica Triglav acquired a 26.49% stake from other shareholders of the company and in February 2011, as the sole shareholder, adopted a decision to wind up company in a simplified procedure without liquidation. After this winding-up, the total assets of the company were assigned to Zavarovalnica Triglav.

  • The Management Board of Triglav Osiguranje a.d., Banja Luka, at its meeting on 6 August 2010, decided to establish Triglav auto d.o.o., Banja Luka, as a 100%-owned subsidiary of Triglav Osiguranje a.d., Banja Luka, with the main objective of carrying out roadworthiness tests and investing in other providers of such services. Triglav auto d.o.o. was entered into the Court Register on 11 March 2011.

  • Lovćen osiguranje a.d. reduced its stake in the company Nacionalni biro osiguravača Crne Gore and, as a result, the latter ceased to be its associated company.

  • With the aim of making the management of the Triglav Group more effective, Zavarovalnica Triglav transferred its shareholdings in subsidiaries outside Slovenia (Triglav Osiguranje d.d., Sarajevo, Triglav Osiguranje a.d., Banja Luka, Triglav Osiguranje a.d.o., Belgrade, Triglav Osiguruvanje a.d., Skopje, Triglav Pojišt'ovana, a.s., Brno and Lovćen Osiguranje a.d., Podgorica) to Triglav INT d.d., and raised the capital of the latter by EUR 88,548,008 with in-kind contributions. The share capital of Triglav INT d.d. was increased through an issue of 88,548,008 ordinary, freely transferable, registered par value shares. The issue value per share was EUR 1. Following this capital increase, Zavarovalnica Triglav remained the sole shareholder of Triglav INT.

  • On 14 April 2011 Triglav Naložbe d.d. concluded an agreement to sell its stake in Intercement, upravljanje naložb d.o.o. to Wietersdorfer Finanz GmbH. Part of the proceeds was paid in cash and part through the transfer of 280 shares (i.e. a 100% shareholding) of Salnal d.d. to Triglav Naložbe d.d. The only assets of Salnal d.d. were a 6.807% shareholding in Geoplin d.o.o. and a 100% shareholding in Sianal d.o.o., whose only asset in turn was a 0.714% stake in Geoplin d.o.o.

  • On 27 December 2011, Triglav nepremičnine d.d. concluded an agreement on the acquisition of Pista d.o.o., Belgrade, a company established with a contribution in kind, represented by an office building at the address Bulevar Milutina Milankovića 7, Belgrade. Pista d.o.o. was acquired in order to satisfy the office space requirements of Triglav Osiguranje a.d.o., Belgrade. For the Triglav Group, this is an important step towards concentrating all real property business in Triglav nepremičnine d.d., which, according to the adopted and approved strategy and forecast growth in the volume of operations, is expected to extend its property management services to foreign markets.

  • Zavarovalnica Lovćen Osiguranje a.d., Podgorica, founded the insurance company Lovćen životna osiguranja a.d., Podgorica as a 100%-owned subsidiary and transferred to it its life-insurance portfolio.

  • Zavarovalnica Triglav holds 25.61% of the equity of Abanka Vipa d.d. (Abanka). In accordance with IAS 28 – Investments in Associates, in 2010, this equity holding was posted as an investment in associates, since the attached voting rights gave Zavarovalnica Triglav significant influence in Abanka. As at 31 December 2011, the equity holding in Abanka was the same as at 31 December 2010. However, on 20 January 2011, Zavarovalnica Triglav received a decision of the Securities Market Agency on the cancellation of its voting rights in Abanka, whereby the significant influence was annulled. As a result, in 2011, the equity holding was excluded from financial assets in associates and recognised as a financial asset available for sale. The same applies to other items of the income statement and the statement of financial position referring to Abanka.
 
 
 
 
 
 
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