“Repharm” group has informed Nasdaq Riga of an agreement with Nika Saveļjeva to acquire 7.8% of the voting rights in JSC “Olainfarm” by exercising these rights through JSC “AB City”, the mother company of JSC “Repharm”.
This February, JSC “Repharm” already announces the agreement with Anna Emīlija Maligina on the acquisition of the rights to purchase 21.97% of JSC “Olainfarm” shares and acquisition of respective voting rights by exercising these rights through JSC “Repharm” subsidiary “Farma Fund” Ltd. In its turn, “Rīgas Farmaceitiskā fabrika”, which is part of “Repharm” group, also directly owns 1.07% of JSC “Olainfarm shares”.
We hereby inform that as the result of this set of transactions, “Repharm” group has acquired a significant stake in JSC “Olainfarm” – 30.84% of JSC “Olainfarm” voting rights. According to the regulation, the Financial and Capital Market Commission’s (FCMC) permission for the mandatory repurchase offer of shares must be requested if a significant shareholding in JSC “Olainfarm” is acquired, meaning at least 30% of the voting rights. Repharm” group operates in accordance with the Financial Instrument Market Law and will request the FCMC's permission to make a mandatory share repurchase offer to others JSC “Olainfarm” shareholders.
““Olainfarm” is a company of national importance, and it is therefore important that it becomes property of local capital investors, who aim to ensure sustainable development of the company and have extensive experience in health care. “Repharm” group as a Baltic health-care leader with a long-term strategy meets all these criteria. We are glad that we have an opportunity to participate in the development of “Olainfarm”,” Deputy Chairman of the Supervisory Board of Repharm Dins Šmits indicates.
If, as a result of this share repurchase, JSC “Repharm” acquires more than 50% shares, JSC “Repharm” will fulfil its obligation to apply to the Competition Council for approval of the transaction in full knowledge of and respect for applicable competition regulations.