LIPTOVSKÝ MIKULÁŠ (17.5.2024) The General Meeting of Tatry Mountain Resorts (TMR) approved the issuance of approximately 6.3 million new shares. This allows the tourism giant to get 120 million euros of new capital, which it plans to use to stabilise the company and let it develop further.
The TMR General Meeting took place at the Tatralandia water park in Liptovský Mikuláš on 17th May 2024. The attending shareholders approved the proposal to increase the company’s share capital, which is currently 46,950,386 euros, by a maximum of 44,210,530 euros by issuing and subscribing up to 6,315,790 new shares at an issue price of EUR 19 for its existing as well as potential new investors.
“The approved subscription should serve as an incentive for the entire company. By doubling our capital, we aim to pay off the debts accumulated after the COVID-19 pandemic, which consume a significant portion of our profits. This approach also provides resources for further development and increases the company’s value for shareholders. Additionally, it would mean that the company could resume paying dividends and become even more attractive on the stock market,” said Igor Rattaj, the Chairman of the Board of Directors at TMR.
TMR is a leader in operating mountain resorts, amusement parks and providing tourist services in Central and Eastern Europe. Its portfolio includes significant mountain resorts, amusement parks, golf courses and hotels in Slovakia, the Czech Republic, Austria and Poland. Its shares are traded on the stock exchanges in Prague, Bratislava and Warsaw.