In its countermotion EPIC is proposing that shareholders may be paid dividend in rights – the Company's treasury shares. This should work in the following way: the total dividend pertaining to a certain shareholder will first be reduced by the amount of dividend tax (if  applicable) and then the remaining amount will be divided by the average daily price of the Company's shares realized on the official market of the Zagreb Stock Exchange on the date of general assembly. Any possible balance left shall be paid in cash.

According to this countermotion, shareholders willing to be paid dividend in Company's treasury shares must provide a written and signed statement and send it to the Central Depository and Clearing Company Inc. no later than by 20 May 2016. The application form for dividend in shares may be downloaded by interested shareholders from the Company’s website www.valamar-riviera.com. To all other shareholders who do not provide a statement asking to have the dividend paid in treasury shares, the dividend in the amount of HRK 0.60 (sixty lipa) per each share shall be paid in cash.

Payment of dividend in kind and rights respectively is permitted by the Companies Act and the Valamar’s Articles of Association and it represents a choice for each individual shareholder. Shareholders of Valamar Riviera accepting the offered payment of dividend in Company’s shares are able to increase their investment in the Company at no additional transaction costs. On the other hand, the Company is saving on cash and can simultaneously release part of the allocated reserves for treasury shares. And by giving each shareholder the choice of getting dividends in cash or in shares, a potential overhang of shares from shareholders with a liquidity preference can be avoided.