SSH will enable further expansion of international business

Zagreb, June 24, 2024 - The owner of Energija naturalis, Pavao Vujnovac, founded Sustainable Solutions Holding (SSH), an umbrella investment holding that will manage shares in companies where Vujnovac has so far had direct ownership as an individual.

The new ownership structure, or the adjustment from individual ownership to an investment holding, will enable further internationalization of the portfolio and easier access to international financial markets. This is part of the announced corporate restructuring, in which Pavao Vujnovac is withdrawing from the operational management of companies in which he has ownership, and taking on the role of a financial investor.

SSH, like a large number of international corporations, is registered in Switzerland, a country with one of the most developed financial markets in Europe, and will operate as an investment holding through which it will - in the first phase - invest in the countries of the wider region, and later throughout Europe. Investment focus remains on energy, logistics, food and beverage production, retail, and real estate.

Access to some of the largest European financial institutions is the key reason for the adjustment of the ownership structure. This reduces the risk primarily for the Croatian financial market, which is dominated by banks, and thereby also the strict regulatory rules concerning capital exposure to the same ownership structure, regardless of the fact that these are companies that successfully operate independently. Given Croatia's relatively small financial market and financial institutions compared to the rest of Europe, adopting an adapted ownership structure will allow the owner to secure long-term and sustainable financing for all projects. This approach will also make it easier to pursue investments abroad.

The adjustment of the ownership structure in companies where Pavao Vujnovac directly holds shares has already started in some cases and is expected to last at least one year. However, this process will not affect the operational functioning or, more importantly, the tax residency of the companies undergoing the adjustment.

The companies will continue to employ staff and pay all taxes in the countries where they are registered and where they have their headquarters.

We emphasize that this is a private investment holding that exclusively consolidates ownership, and that there will continue to be no financial cross-collateralization or similar credit linkage among the companies with the adjusted ownership structure.

The sole owner and CEO of the company SSH is Pavao Vujnovac, who remains a tax resident in the Republic of Croatia.