The Company wants to utilize the capital raised from the issue mainly to pay shareholders from the decrease of share capital, which decreases from EUR 174.4 million to 46.95 million as of 22 October 2013 based on the shareholders’ decision.
Together with the bond issue of up to EUR 110 million, which the shareholders approved at the Extraordinary General Meeting on 22 August, TMR is planning a bond issue in total of EUR 180 million. The Board of Directors plans to issue both tranches by the end of the year 2013 with a projected admittance to the regulated free market of the Bratislava Stock Exchange in the beginning of next year.
The changes in Articles approved by the EGM relate to harmonizing of the Company’s scope of business registered in the Trade Register and in the Trade License Register, extension of the scope of business with new services, harmonizing of the wording of Articles of Association with relevant provisions of Commercial Code as amended, and to refining of some articles of Articles of Association.
The EGM was attended by shareholders holding 74% of the TMR stock.
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.