BAL: JSC “Latvijas balzams” Management Board opinion on voluntary share buyout offer
The Management Board of JSC „Latvijas balzams” evaluates positively expressed voluntary share buyout offer: increased influence of the “Amber Beverage Group” Ltd. will allow fasten the decision making process and will give the company the ability to concentrate on its core business -development and production of competitive products, as well as the ability to react to the changes on the market in a timely manner. This share buyout offer will not affect execution of the company’s strategy and future plans. The shareholder has no intention to change the profile of the company and place of activity.
The share buyout offer expressed by the shareholder will not affect the employment policy, employees of the company will maintain their working positions according to concluded labour agreements.
On February 10, 2015 the Financial and capital market commission has adopted a decision to permit the shareholder of JSC “Latvijas balzams” „Amber Beverage Group” Ltd. to express JSC “Latvijas balzams” voluntary share buyout offer, by approving the buyout price of each share in the amount of 9.00 EUR.The offer is valid for 30 calendar days commencing on February 16, 2016 by March 16, 2016 inclusive upon the condition that at least three per cent of the shares are offered for redemption.
Information about procedures by which shareholders can accept the offer is published on the Nasdaq Baltic website: http://www.nasdaqbaltic.com, www.oricgs.lv as well be found in the company's home page www.lb.lv section " For Investors "