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Information about mandatory offer of share repurchase

·3-min read

Joint Stock Company “Olainfarm” hereby informs that on 19 July 2021 according to 14 July 2021 Financial Capital Market Commission decision and the official announcement of the publisher “Latvijas Vestnesis” on 16 July 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 indirect ownership that in total comprise 30.85% 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 17 August 2021.

The announcement on the offer result is on 24 August 2021.

Settlement implementation is on 24 August 2021.

Attachment: Joint Stock Company Olainfarm mandatory share repurchase offer prospectus of 30 June 2021 (in Latvian).

Additional information:

Jānis Dubrovskis

Investor Relations Advisor of JSC Olainfarm

Phone: +371 29178878

Email: janis.dubrovskis@olainfarm.com

Attachment


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