"In order to inform the public in an accurate manner, Croatian Financial Services Supervisory Agency informs that it cannot accept Mr. Aldott’s comments concerning scope of Agency’s activities. The Agency finds referring to its activities in such manner, implying that the Agency does not provide equal treatment to all the issuers in the Republic Croatia, as well as stating that the Agency has gone beyond its authorities during the procedure of supervision of issuer INA-Industrija Nafte d.d., malicious and unfair, and aimed at diminishing the Agency’s reputation," the agency said in a statement published on it web site.

"In addition, these claims show that Mr. Aldott is not familiar with basics of regulatory framework regulating capital market in the Republic of Croatia and Agency’s authority."

The agency recalls that in compliance with the provisions of the Capital Market Act, the agency "supervises whether companies listed at regulated market fulfill their obligations regulated by the Capital Market Act, with the aim of establishing tidy, fair and functional market."

"We would like to point that the Agency, while performing its supervisory activities on issuer, acted in accordance with its legal authorities, and regularly informed the public on activities performed during supervision procedure, as well as on results on the supervision. While taking into account procedures, public statements and acts brought by the Agency in this case, as well as in the other cases, it is evident that the Agency has acted and acts with the purpose of protecting investors, and ensuring fair and proper trading at regulated market of Zagreb Stock Exchange."

HANFA accuses Aldott of attempts to deceive the public and providing false statements on the agency’s role, competence and supervisory authorities.

"In addition, Mr. Aldott is aware that internal documents of INA-Industrija nafte d.d. are not aligned with the relevant legal provisions, and the Agency informed the public on this issue by publishing the relevant Decision on its website."

"We are also convinced that Mr. Aldott is familiar with the Agency’s legal authorities and available legal measures, i.e. measures concerning misdemeanor and criminal offences, which may be used by the Agency against him personally, as well as against his former and present function at INA-Industrija nafte d.d. G. Aldott is also aware that the Agency, in accordance with relevant legal provisions, has authority to supervise the issuer’s activities, and this includes INA-Indsutrija nafte d.d," the agency said.

"We are convinced that Mr. Aldott is also familiar with the fact the Agency is an independent body responsible to the Croatian Parliament only. In line with this, it is Agency’s opinion that the statements given by Mr. Aldott reflect equally malice, attempt to weaken the reputation of the Agency and lack of awareness."

With regard to everything stated above, the Agency believes that such statements made by Aldott "can only be interpreted as a new attempt to defame the Agency, and to openly and without foundation question its competence, professionalism and impartiality."

"As supervisory authority for capital market in the Republic of Croatia, the Agency cannot and will not allow such pressure on its activities, and will not allow the conduct of the market participants which is contrary to the provisions of the relevant acts and by-law regulating trading at capital market," the agency said, among other things.