CROATIA. NOTIFICATIONS
CROATIA. Exchange Control Information
CROATIA. Notifications
CROATIA. For agreements prior to the independence of Croatia, see YUGOSLAVIA.
CROATIA. This offer is being made to Eligible Individuals as part of an employee incentive program in order to provide an additional incentive and to encourage employee share ownership and to increase your interest in the success of the Company. The shares which are the subject of these rights are existing shares of Common Stock of the Company. More information in relation to the Company including the share price can be found at the following web address: xxxx://xx.xxxxxxxxxxx.xxx/investor-relations. The obligation to publish a prospectus does not apply because of Article 1(4)(i) of the EU Prospectus Regulation. The total maximum number of Shares which are the subject of this offer is less than one million.
CROATIA. The forests in Croatia cover an area of 47% of land, and the country boasts a well-established wood industry4. Growing stock amounts to about 400 million m3 with annual increment up to 10.5 million m3. The allowable cut is around 6.6 million m35. A dozen of Croatian pellet producers are exporting around 250,000 tons per year while at the end of 2015. Croatian Forests Ltd. had contract for 1.2 million m3 of wood chips enough to supply cogeneration plants of total electric power of 60 MW (CHP-E) and heat power of 230 MW (CHP-H).6 There is a high availability of wood chips and the cost is low. However, the supply chain is concentrated in a few producers as there is still an insufficient organizational setting of private forest associations and a difficult socio-economic situation of forest owners, which prevents the sector from new movements that imply new investments for the development of new supply chains or for researching on conversion technologies. The ash content and emissions are low for this type of biofuel and there is high knowledge an acceptance of consumers about the pros of wood chips. However, there are several disadvantages to keep in mind, such as the fact that water content of wood chips has to be lower than 30%, which implies a pre-treatment to achieve the desired humidity, it is necessary to use a larger place to store compared to other woody biofuels, the devices to use it at domestic scale is expensive. There are also some constraints related to legislative acts regulating the consumption for energy uses as well as a lack of financial incentives for investing in biomass district heating. In fact, to date there are few projects related to medium/large scale applications of bioenergy production such as district heating, combined heating and power (CHP) utilities.
CROATIA. Croatia’s high sustainable forest potential is preventing the development of other agricultural by- products biofuels. In particular, olive plantations are one of the less developed crops in the country – only soybean straw is less developed-. In addition, Xxxxx Xxxxx is still treated as a waste with the problems related to transportation and final destiny.
CROATIA. In Croatia, there is a huge area of land taken up by forests, which value is close to 50%. In this way, the wood industry is one of the most important developed industries in Croatia. This fact may hamper the research to valorize other agri-food byproducts like nutshells. The nut byproducts only come from hazelnut and walnut in Croatia. However, their production is small and thus their use as biofuels is limited. But, Croatia has increased the breeding of nuts for the last 2 years. Currently, nutshells do not present any use as biofuels except as self-consumption. As previously mentioned, Croatia has a low production of nutshells in comparison with other biofuels like wood chips and pellets. This fact causes that the implementation of nutshells as biofuels is not encouraged, contrary what happens, for instance, with wood chips as pointed out above.
CROATIA. As explained before, Croatia’s high sustainable forest potential is preventing the development of other agricultural by-products biofuels. However, there is a discreet availability of pruning coming from vineyards present across the country. Therefore, the use of both pruning might join a huge number of producers in order to encourage their use as biofuels and reduce the costs. On the other hand, as mentioned before, large areas are covered by vineyard cultivations. However, a big number of them are smaller than 1 hectare and this is not enough for biofuel production. Another disadvantage is the seasonal availability and thus their use cannot be continuous during the year. As a conclusion the competitiveness of olive and vineyard pruning in terms of calorific power and price may be hampered by a minor availability and a strong seasonality of the product compared to wood pellets, firewood and wood chips’ competitiveness in the country.
CROATIA. In the Croatian law the hotel-keeper's liability from the allotment contract derives from the ZOO (articles 909- 920) and PUU (customs 95-102). Based upon the number of guests which the agency sends under the contract of allotment, the hotel-keeper realizes financial gain. Therefore, the hotel-keeper is obliged to pay the reward or commission, and is liable for the violation of this obligation, as well as for the proprietary and non-proprietary damage suffered by the agency. A travel agency operates exclusively for a commission (Xxxxxx & Xxxxxxx, 2006, 23), where the amount is calculated in relation to prices of the hotel services (Xxxx, 1977, 148). In Croatian law, the amount of the commission may be determined by: 1) primary - in the allotment contract or, if there are no such clauses in the contract, and 2) the so-called usual commission (custom 70.3 PUU): 5 %, if the agency is domestic tour- operator, %, if the domestic agency is the mediator for the foreign agency's guests and 8 %, if the agency is a foreign tour-operator.
