“Trace Group Hold" PLC acquired all owned by “Trace PZP Nis” PLC shares in “Trace PZP Vranje” Ltd

14 Oct 2016

“Trace Group Hold" PLC on the grounds of sale and purchase contract dated on 11.10.2016 acquired all owned by “Trace PZP Nis” PLC shares in “Trace PZP Vranje” Ltd.  As a result “Trace Group Hold" PLC became owner of the Serbian subsidiary“Trace PZP Vranje” Ltd.that has a capital of 378 010 000 RSD, of which cash contribution amounted to 10,000 SRB and non-cash contribution of 378 000 000 RSD.

"Trace PZP Vranje" Ltd is a part of "Trace Group Hold" PLC by early 2015 and performs construction activities related to maintenance and reconstruction of streets and roads in the territory of 13 municipalities in the Republic of Serbia. The company possesses three asphalt plants, two concrete bases, more than 100 road - construction machinery and transport equipment, technical and production facilities and offices. Serbian company has technical facilities situated in Vranje and Leskovac and production bases in all adjacent municipalities. The administrative offices of "Trace PZP Vranje" Ltd are located in Vranje and Leskovac.

"Trace PPP Vranje" Ltd actively participates in construction tenders and is involved in infrastructure projects implemented under state programs of the Republic of Serbia and other public procurements. The net income of "Trace PPP Vranje" Ltd for 2015 form 23% of the total revenue of "Trace Group Hold" PLC on the Serbian market.