23. 8. 2016Ljubljana, 23 August 2016 - The Republic of Slovenia, rated Baa3 (stable) / A (stable) / BBB+ (positive), has mandated Barclays, Deutsche Bank, Goldman Sachs International Bank and J.P. Morgan as Dealer Managers for a Tender Offer for the Issuer’s outstanding 2022, 2023 and 2024 US$ securities. Additionally, the Republic will consider a Euro-denominated Reg S transaction in dematerialised registered form, subject to market conditions and the results of the concurrent Tender Offer. Relevant stabilisation regulations apply. Tender Offer Launch Announcement is published on the Luxembourg Stock Exchange website.NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE SUCH DISTRIBUTION WOULD BE UNLAWFUL (SEE "OFFER AND DISTRIBUTION RESTRICTIONS" IN THE TENDER OFFER MEMORANDUM).
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7. 7. 2016Ljubljana, 6 July 2016 - Today, a company authorised by the Republic of Slovenia began scanning documentation from the archives of the former Main Branch Office of Ljubljanska Banka in Sarajevo. Slovenia, which is implementing the judgement of the European Court of Human Rights in the Ališić case, requires these additional documents in order to verify old foreign currency deposits held by its savers. The scanning and submission of data into the verification system will be completed in autumn, whereupon Slovenia will start processing the requests filed by savers of the Sarajevo Main Branch. The first payments to savers will be carried out by the end of this year for savers, who have submitted a complete request. Documentation at the former Main Branch Office is incomplete as the archives do not include data from all offices that were part of the Ljubljanska Banka Branch Office in Sarajevo. For those savers whose identity cannot be verified by means of the scanned documentation, the collection of evidence will require more time. In such cases, the cooperation of competent authorities in Bosnia and Herzegovina will be necessary.
The decision-making process concerning requests for verification of unpaid old foreign currency deposits by savers of the former Ljubljanska Banka, Sarajevo Main Branch, has been postponed in accordance with Article 21(1) of the Act on the Method of Execution of the Judgement of the European Court of Human Rights (ECtHR) in Case No. 60642/08 (hereinafter: ZNISESČP) until the acquisition of data referring to the aforesaid savers.
On 27 April 2016, Slovenia and Bosnia and Herzegovina reached an agreement under the “good offices” of the Council of Europe (Department for execution of ECtHR judgments) concerning the access of Slovenia to the data of the former Sarajevo Main Branch, its scanning and the resulting commencement of the verification procedure in Slovenia. The agreement between the two states was also welcomed at its June session by the Committee of Ministers of the Council of Europe, which supervises the execution of the judgements of the European Court of Human Rights.
On the basis of this agreement and following the exchange of diplomatic notes and the execution of the required internal legal procedures, Bosnia and Herzegovina allowed Slovenia and its authorised company on 6 June 2016 to access the archives of the Sarajevo Main Branch and to scan the documentation. In addition to the documentation in the electronic format, which has already been submitted to Slovenia by Bosnia and Herzegovina, these documents are essential for the verification of the holders of the old foreign currency deposits.
The selection of a contractor to provide the scanning was carried out through a public tender, with the company Mikrocop d.o.o., Ljubljana, being awarded the contract. An agreement was signed with the company on 21 June 2016 and today the contractor began scanning the archives of the Sarajevo Main Branch. Pursuant to the contractual provisions, the deadline for the performance of works is within one month after the scanning has begun.
In accordance with the agreement between the two states of 27 April 2016, the Republic of Slovenia will enter the documentation obtained from the Sarajevo Main Branch into an electronic database within six weeks after its acquisition from the contractor. The Minister of Finance will then publish the date when the data from the Sarajevo Main Branch was obtained in the Official Gazette of the Republic of Slovenia, thus fulfilling the condition set out in the ZNISESČP for the commencement of the verification procedure concerning the savers of the Sarajevo Main Branch. Based on this timeline, the publication in the Official Gazette is expected in September 2016.
Upon the publication of date of the acquisition of data from Sarajevo in the Official Gazette of the Republic of Slovenia, the Succession Fund of the Republic of Slovenia (hereinafter: the Fund) will start processing requests for verification for all the savers of the Sarajevo Main Branch who have already submitted their requests. This will also initiate the three-month deadline by which the Fund deliberates on complete requests. The requests will be processed according to the order in which they were received, and where appropriate the Fund will call upon savers to supplement the incomplete applications. Those savers who have not yet submitted their requests can do so by 31 December 2017.
Given the fact that the documentation in the archives of the Sarajevo Main Branch is incomplete, Slovenia and Bosnia and Herzegovina undertook a commitment in the agreement of 27 April 2016 to continue their cooperation through competent authorities. It can be assumed that the verification procedure concerning the requests of the savers regarding whom Slovenia will not obtain all data from the archives of the Sarajevo Main Branch will be more difficult and, as a result, will require more time.
Nonetheless, Slovenia has been consistently executing the judgement in the case of Ališić. Thus far, it has received over 23,000 requests for verification and issued over 4,700 indicative calculations in the total amount of €61.6 million. By mid-July 2016, over 2,200 payments to savers will have been carried out. The total value of these payments exceeds €31.5 million.
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