Opinion of the Management Board of JSC Olainfarm on the offer of mandatory share buy-back of the company and its impact on the public interest

Opinion of the Management Board of JSC Olainfarm on the offer of mandatory share buy-back of the company and its impact on the public interest

On 2nd November 2021, the Financial and Capital Market Commission decided to permit JSC AB CITY to make the mandatory share buy-back offer (hereinafter – the Offer) approving the buy-back price of one share 9.26 EUR.

The Management Board of the Company finds the Offer to be compliant with the conditions of the Financial Instruments Market Law.

The Management Board positively evaluates the Offer considering the fact that the Offeror intends to continue the Target company's operations and it is not planned to change business activities. The Target company will continue its operations in current field. It is also planned to continue employment relations with the Target company’s employees according to concluded employment agreements. There are no plans to change the Target company’s location.

Additional information:

Jānis Leimanis

JSC Olainfarm Management Board Member

Phone: +371 29269424

Email: janis.leimanis@olainfarm.com