In Conformity with the Stock Exchange Rules, Lek d. d. as an Issuer of Securities Hereby Informs the Public
Ljubljana, June 4 – Recently, the media reporting on the events in the Stock Exchange and in the economy have frequently mentioned the company Lek d. d. with regard to considerable growth in Lek share values. They have often raised the possibility of acquisition of the company Lek, referring to unofficial sources.
Lek share values in the Ljubljana Stock Exchange have noted considerable growth in the past two months. The share values have thus reached a record amount of more than 65,000 SIT per share, while the share value growth from the beginning of 2002 has been almost 50%.
The movements in the values of shares listed in stock markets, including the Ljubljana Stock Exchange, are influenced by a number of factors.
One of the major factors influencing the events in stock markets are the circumstances in the international capital markets, which have been improving since the last year’s crisis and consequently, the so-called emerging markets are again becoming interesting. The circumstances in the Slovenian financial market, conditioned by a decrease in the banks’ interest rates and, as a result, a keener interest in investments in securities, have affected the movements in the values of shares listed. Above all good business performance of Lek in the last year and at the turn of 2002, as well as a highly rated potential for future growth contributed to the fact that Lek share, as viewed by the investors, is one of the Slovenian most attractive shares.
An increased interest in Lek shares is therefore quite understandable. But parallelly, speculations about other underlying reasons for such a growth in Lek share values have started to surface, one of them being the possibility of strategic partnerships or acquisition of Lek. Speculations of this kind are completely unfounded. We have to point out that there are no realistic reasons of any kind to substantiate them, and that such rumours could only result in increased expectations, especially from speculative investors and brokers.
At its session of June 3, Lek Board of Management considered the situation and came to the conclusion that despite certain changes in the owners’ structure, the share structure is stable and does not deviate from the anticipated. Foreign citizens are holding a 25% share in the share structure, while in the past this share even exceeded 30%. In the past week there were also no major changes or deviations from the ordinary trading volume, started already in March 2002, showing improvement of liquidity on the market.
Lek’s performance in 2002 has been successful, yielding results according to plan. We aim at providing further stable and sustained growth. We are all highly motivated by the results achieved. We are facing multiple challenges brought about by the increasingly demanding markets in which we operate.
Releasing information accurately and timely is also a constituent part of our operations and our obligation stipulated by the Ljubljana Stock Exchange Rules and by the valid legislation. We are therefore planning to continue to provide information to our investors, potential investors and the general public in a well established way, and we recommend them to base their future decisions on Lek’s official information.
This press release contains statements and conclusions based on projections of Lek’s future business operations. These estimates are derived from the best information currently available. In case these forecasts prove unreliable, the actual results could prove different from those projected.
- * *
For additional information, please contact: Miša Komar Žiberna, Lek’s Corporate Communications Telephone: + 386 1 580 22 43