Notice for TMR shareholders
Notice for TMR shareholders
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The abovementioned buy offer offers the price of EUR 26 per share whereas the current market price of the TMR stock on the Bratislava Stock Exchange is EUR 45.38 (as of 15/8/2013). As in the last couple of years the TMR stock still ranks among the most traded stock on the exchange with a positive annual return (6.8% as of 15/8/2013), which confirms that there is no reason to sell the shares below the price to Kuponka s.r.o.

As for the taxation of the pay-out from the decrease of share capital, based on general principals of the Income Tax Act as amended, Article 8 Par. 2 states that: “the tax basis (partial tax basis) includes taxable income less the documented acquisition cost. If the cost related to the individual type of income described in Par. 1 is higher than the income, the difference is ignored.”

As a result of the above, the shareholder discloses the income from the decrease of share capital in the amount of EUR 26 per share (the Income Tax Act ignores losses) provided that the shareholder had acquired the shares for more than EUR 26 per share, then the tax basis is zero, i.e., the shareholder does not pay income tax on the decrease of share capital. Since the tax basis is zero, it will be not added to the health insurance contribution basis. In any case we strongly recommend shareholders to contact their tax consultants.

Before making any investment decision you should consult with your broker or financial advisor.

For more FAQ related to trading with the TMR stock please visit and

Tatry mountain resorts, a.s. is the top player in the tourism segment in Central and Eastern Europe, which itself or via subsidiaries owns and operates attractive mountain resorts and hotels in the area of the Low and High Tatras. The assets in the Low Tatras include the resort Jasná Nízke Tatry and the following hotels: Wellness hotel Grand Jasná, Tri Studničky Hotel and Chalets Záhradky De Luxe. In the High Tatras, TMR owns and operates resorts Tatranská Lomnica, Starý Smokovec and the following hotels: Grandhotel Praha Tatranská Lomnica and Grandhotel Starý Smokovec, Hotel Slovakia and hotel FIS Štrbské Pleso. TMR also co‐operates the ski area Štrbské Pleso and since the winter season 2012/2013 it has been leasing the mountain resort Špindlerův Mlýn in the Czech Republic in cooperation with SMMR, a.s. TMR owns Tatralandia, the largest Slovak aquapark with all-year operation, which offers a lot of water activities, the Fun Park, or relax in a special tropical hall with sea water. It also offers accommodation in bungalows and suites of the Holiday Village Tatralandia. TMR owns and leases out Hotel Liptov and Hotel Ski&Fun Záhradky and Bungalows, and Kosodrevina Lodge. More than 144 million Euros have been invested by the end of 2012 in the already mentioned resorts. These investments help to increase the standard and visit rate in the Tatras. The TMR shares have been traded on three European stock exchanges – in Bratislava, Prague and Warsaw since 2012.