“SIMA” Ltd. - in bankruptcy

Aleksandrovac bb – Industrial Zone

Number: 57 0 St 097795 12 St

Date: February 11, 2013

Pursuant to Articles 105, 106 and 108 of the Law of Bankruptcy Procedure revised text (Official Gazette of RS no. 26/10) and the Decision of the Creditors Assembly on the Terms and Manner of Realization of all Assets of the Debtor "SIMA" Ltd. – in bankruptcy Aleksandrovac – Laktaši as of November 11, 2012, under the approval ofthe bankruptcy judge, bankruptcy trustee issues the Conclusion announcing

AUCTION

TROUGH SECOND VERBAL PUBLIC BIDDING TO SELL

THE ENTIRE PROPERTY OF BANKRUPTCY DEBTOR

“SIMA”LTD. – IN BANKRUPTCY ALEKSANDROVAC – LAKTAŠI

Stated property is located within the company "SIMA" Ltd. - in bankruptcyAleksandrovac bb – Industrial Zone, Aleksandrovac – Laktaši except for one plot of construction land located in Trn.

The bankruptcy trustee is selling the property in the factual and legal state in which the property is found at the moment of sale and transfers on the buyer the property rights as which the bankruptcy debtor has at the time of sale, as follows:

I – CONSTRUCTION LAND marked:

- cadastre quart no. 447/74of area9525 sqm

- cadastre quart no. 447/81of area11766 sqm

- cadastre quart no. 447/108of area4987 sqm

- cadastre quart no. 372/1of area2522 sqm

------

Total area of 28 800 sqm

listed in ZK file No.425 and 483 cadaster municipality Krnete Laktaši and

ZK file No. 2015 cadaster municipality Trn Laktaši.

The total estimated value of theconstruction land:959.590,00 BAM

II – BUILDINGS, including:

- Office Building P + I floor + II floor of net floor area of1826,05 sqm

- Production plant P+I floor of net floor area of 5 582,34 sqm

- Storage facilities of net area of 1602,20 sqm

- Energy building of net area 378,23 sqm

- Doorman facilities of net area of 11,60 sqm

- Substation of net area of 41,60 sqm

- Exterior and infrastructure of 20266,00 sqm

Total estimated value of the buildings:10.897.124,00 BAM

III – PRODUCTION EQUIPMENT, OFFICE EQUIPMENT

AND FURNITURE AND VEHICLES

of total estimated value6.160.837,32 BAM

IV – INVESTMENTS UNDER PREPARATION – REINFORCED

CONCRETE ELEMENTS FOR BUILDING CONSTRUSTIONS

of total estimated value66.458,00 BAM

V – RAW MATERIALS AND GOODS INVENTORIES

of total estimated value14.729,88 BAM

______

TOTAL ESTIMATED VALUE OFTHE ENTIRE PROPERTY18.098.739,20 BAM

Sale of the entire property will be carried out through public bidding – auction on March 14, 2013(Thursday), beginning at 1 p.m. in the building of the Commercial District Court in Banja Luka, Gundulićeva 108, Main hall (Velika sala).

TERMS OF SALE

  1. Property of the bankruptcy debtor “SIMA”Ltd. - in bankruptcy Aleksandrovac – Laktaši shall be sold as a whole.
  2. Starting price of the auction is the total estimated value of the entire property of the bankruptcy debtor in the amount of 18.098.739,20 BAM.
  3. Selling price is determined in accordance with the provisions of the Law on Enforcement Procedure.
  4. At the second public bidding - auction the entire property shall not be sold below the 1/3 (one third)of the total estimated value.
  5. The right to participate in this public bidding will be given to all legal entities and individuals who submit the deposit in amount to 50.000,00 BAM on bankruptcy debtor’s "SIMA" Ltd - in bankruptcy Aleksandrovac bb, Aleksandrovac – Laktaši no. 1990560056444780account at Sparkasse bank - Banja Luka branch and submit the proof of deposit made. After proof of deposit is reviewed only the bidders who deposited stated amount within the deadline will be allowed to participate in the auction besides the mortgage creditors.
  6. Individuals may participate in the auction in person or via attorney. When participating in person, in order to prove their identity, before the start of bidding, they are obligated to reveal to the bankruptcy trustee the identification documents and proof of deposit made. If the person is represented by an attorney, he is obligated to reveal before the bankruptcy trustee a valid power of attorney for representation and proof of deposit made.

Legal entities may be represented via legal representative (director) or attorney. If the legal entity is represented by a legal representative, he is obligated to present to the bankruptcy trustee the decision on entry into court registry (Form no. 4), identification document and proof of deposit made. If the legal entity is represented by an attorney, he is obligated to reveal before the trustee a valid power of attorney and proof of deposit made.

Individuals having inappropriate proof of identity or ones without mentioned documentation will not be allowed to participate in the bidding.

  1. Entire property shall be sold under the principle seen - bought and subsequent complaints shall not be acknowledged.
  2. Entire stated property, as well as related documentation may be seen on working days between 10 a.m. and 2 p.m. at the company site.
  3. Public bidding will be held even if only one bidder is present in the event.
  4. After bidding is concluded, list of the bidders will be formed in accordance with the offered prices above minimum and it will be declared that the property is sold to the most appropriate bidder.
  5. The deposit will be immediately returned to the bidders whose bids are not accepted, with exception of the top three most appropriate bidders, in accordance with the Article 92. of the Law on Enforcement Procedure, and at the latest within the 3 days after the public bidding.

If the most appropriate buyer fails to fulfill his obligations related to payment of sale price within stipulated deadline, it will be considered that he desisted from buying and he will lose the right of deposit refund. Deposit paid by the selected bidder - buyer will be considered to be a part of the advance payment.

  1. The buyer is obligated to make the payment of the total amount within 30 days starting from the date of sale of the entire property, on the account no. 1990569056444780at Sparkasse bank - Banja Luka branch.
  2. If the most appropriate bidder fails to pay the selling amount within 30 days, the trustee will, by the conclusion, proclaim the sale invalid and determine, by new conclusion, that the property is sold to another, second bidder who shall pay the offered price within 30 days after the date of receipt of that conclusion. If the second bidder fails to pay the sale price within the stipulated deadline either, the same rule applies to the third bidder.
  3. The bankruptcy trustee will transfer bankruptcy debtor’s property to the buyer that buys the offered property in the auction, pays the sale price and signs the sale contract within 30 days after the date of payment and signing of contract.
  4. All costs related to notation of sale contract, as well as fees, taxes and VAT related to the transfer of ownership right on the mentioned assets will be borne by the buyer. After completed sale and payment of sale price, the seller has no further obligations with respect to the property. By payment of the sale price, all buyer’s obligations toward the seller cease.
  5. This announcement is published on Regional Commercial Court’s bulletin board, Bankruptcy debtor’s bulletin board, Internet page of the Chamber of Commerce and Industry of Banja Luka Region Internet page of the Chamber of Commerce and Industry of Republika Srpska of Association of Bankruptcy Trustee’s of FIPA (Serbian and English language) “Glas Srpske” daily newspapers.
  6. Additional information can be obtained from the bankruptcy trustee on the phone number: 065/392 – 985 on working days from 10 a.m. to 5 p.m.

Number: 32/13

Date: February 11, 2013

BANKRUPTCY TRUSTEE

Dragičević Željko dipl. economist