Banks Refuse Loans to Lutrija RS, Ending 2021 with a Loss

(Patria) - An extraordinary general meeting of shareholders of "Lutrija Republike Srpske" (Lottery of Republika Srpska), where the rebalanced plan for last year and the business plan for this year were to be adopted, was not held twice due to lack of quorum, the CAPITAL portal has learned.

"Lutrija RS" must rebalance its 2021 business plan because the newly established company "Elektronska video lutrija" (EVL) did not pay the dividend it counted on.

In addition, the rebalancing is necessary due to the profit tax in the amount of 1.1 million marks that was awarded to be paid to the municipality of Prnjavor. The court awarded the municipality of Prnjavor that Lutrija RS must pay 954,818 KM, which with late fees amounts to more than 1.1 million KM today, because the main lotto prize of 3.2 million KM was drawn in Prnjavor in September 2019.

However, as confirmed to Capital, the municipality of Prnjavor is still waiting for the payment of almost a million marks, and only 200,000 KM has been paid to them so far.

In "Lutrija", they only briefly stated that the shareholders' meeting was not held on January 12, nor in the repeated session on January 18, due to lack of quorum, and that they will convene an extraordinary shareholders' meeting again in the coming period.

"Lutrija" obviously does not have the money to pay its debts to the municipality of Prnjavor, so they are delaying the adoption of key documents, and two days ago they had to cancel the tender they announced to borrow 1.1 million marks. They cited as the reason that no bank responded that they were interested in lending to them.

Yesterday, they announced a new tender, again seeking a loan of 1.1 million marks for the purpose of financing current liquidity and settling existing obligations.

They request a repayment period of five years and are willing to pay costs of 180,000 KM excluding VAT for the loan. They list EVL as a co-debtor.

Previously, the company "Lutrija RS" borrowed 2.1 million KM from NLB bank in November, but only about 200,000 KM was paid to Prnjavor at that time.

According to the rebalanced plan, "Lutrija" will conclude 2021 with a loss of 274,000 KM, instead of achieving a gross profit of 562,000 KM.