Home News Olainfarm Share Buyback – Green Light from Court

Olainfarm Share Buyback – Green Light from Court

24 August 2021

Today, Olainfarm Share Buyback got another green light from Court and AB City buyback offer to shareholders can go ahead unhampered. The Latvian Administrative Regional Court completely terminated the proceedings initiated in connection with the claim to annul the decision of the Financial and Capital Market Commission (FCMC), by which it allowed AB City to make a mandatory buyback offer for the shares of Olainfarm.

Thus, the efforts to suspend the mandatory buyback will not affect the transactions concluded during the mandatory buyback.

As reported, the mandatory buyback of Olainfarm shares ended on August 17, during which minority shareholders sold a total of 2,427,408 shares to AB City, the parent company of the Repharm Group. This represents 17.23% of the total number of Olainfarm voting shares, and in total the minority shareholders have received 22.477 million euros for these shares.

In addition, AB City has made an offer to buy back Olainfarm shares until August 25, maintaining the same price (9.26 euros), which was determined in accordance with the method specified in the Financial Instrument Market Law. For this purpose, AB City still has reserved funds in the amount of more than 65 million euros.

For further information:
Rihards Mors
Attorney at Law
AB City authorized representative in matters of Olainfarm share buyback
Mob. phone: 29133955