Information about mandatory offer of share repurchase
05 November 2021 - 7:12PM
Information about mandatory offer of share repurchase
Joint Stock Company “Olainfarm” hereby informs
that on 8 November 2021 according to 2 November 2021
Financial Capital Market Commission decision and the official
announcement of the publisher “Latvijas Vestnesis” on 5 November
2021, JSC AB CITY will begin the mandatory share repurchase offer
process.
The following details of this mandatory share
repurchase offer are being published in accordance with Article 73,
Section 4 of the Financial Instruments Market Law (“FIML”):
Information about the offer
The Target Company: JSC Olainfarm,
registration number 40003007246; legal address: Rupnicu street 5,
Olaine, LV-2114, Latvia, phone: +371 67013705, e-mail:
olainfarm@olainfarm.com, webpage: www.olainfarm.com.
Offeror
JSC AB CITY, registered on 11.10.2018. with
registration number 40203174414; legal address: Ganibu dambis 24D,
Riga, LV-1005, Latvia. Offeror has acquired voting rights in the
Target company’s shares based on direct and indirect ownership that
in total comprise 49,19% of the Target company’s total number of
shares with voting rights.
One share repurchase price and methods
used to determine the share price
Repurchase price is EUR 9.26 (nine euros and 26
cents) for one share.
To determine the repurchase price per share, the
methods specified in Financial Instrument Market Law (FIML) Article
74, Section one. Repurchase price of one share is determined in
accordance with the method specified in FIML Section 74, Section
one, Paragraph three, that envisages to determine a price of one
repurchased share by dividing the Target company’s net assets with
total number of shares, net assets to be calculated by subtracting
the shares held by the Target company and liabilities from total
assets. Method determined in FIML Article 74, Section one,
Paragraph three is used by evaluating Offering price compliance
with all methods determined in FIML Article 74, Section one and by
choosing the method which calculates the highest price for one
share to be repurchased.
The share repurchase term and the term
of the result announcement
The term for the mandatory share repurchase
offer shall be 30 (thirty) days from the day when the Offeror, in
accordance with FIML Article 73, Section four, publishes the
information regarding the share repurchase offer via official
publisher “Latvijas Vestnesis”.
On the last day of the offer maturity,
shareholders of the Target Company may refer to the share
repurchase offer until 16.00.
Within 5 (five) working days after the expiry of
the term of the mandatory share repurchase offer, an offeror shall
publish an official announcement via official publisher “Latvijas
Vestnesis” regarding the offer results.
An offeror will submit a report regarding the
results of the Offer to the Finance and Capital Market Commission,
Nasdaq Riga and the Target Company wihin 5 (five) working days
after the end of the term of the mandatory share repurchase
offer.
Place and time where and when the
prospectus can be familiarized
The prospectus will be published on Nasdaq Riga
website in accordance with FIML regulations.
The dates of the offer ending, result
announcement and settlement implementation
The offer ends on 7 December 2021 at
16:00.
The announcement on the offer result is until 14
December 2021.
Settlement implementation is until 14 December
2021.
Attachment: Joint Stock Company Olainfarm
mandatory share repurchase offer prospectus of 21 October 2021 (in
Latvian).
Additional information:
Jānis Leimanis
JSC Olainfarm Management board member
Phone: +371 29269424
Email: janis.leimanis@olainfarm.com
- Prospekts_AS AB CITY_AS Olainfarm_precizets_27_1
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