The Financial and Capital Market Commission has decided to permit JSC “AB City” to make a mandatory repurchase offer for shares of JSC “Olainfarm”, because JSC “AB City”, based on the indirectly acquired ownership, has obtained voting rights arising from shares of JSC “Olainfarm” amounting to 30.85% of total voting shares of JSC “Olainfarm”. The defined price per share in the mandatory share repurchase offer is 9.26 euro, FCMC informs.
The repurchase price per share is determined in accordance with the method specified in the Financial Instrument Market Law, which provides the determination of the price of one repurchased share by dividing the net assets of the target company by the number of issued shares. Net assets are calculated from total assets, minus the target company’s own shares and liabilities.
The target company is a joint stock company, whose shares are publicly traded and for the shares of which a repurchase offer has been made, in this case JSC “Olainfarm”, FCMC informs.