Inside information, 2017-11-10 14:12 CET (GLOBE NEWSWIRE) -- AS Madara Cosmetics (‘The Company’) has signed an agreement (‘Agreement’) with AS LHV Pank (‘LHV’) to undertake market making in its shares effective from today. The key terms of this Agreement are as follows:
- The term of this Agreement is until November 2018 with the right to extend the period.
- Maximum Spread. The maximum spread between bid and ask orders shall be 10%, calculated from the bid price.
- Trading Period. LHV shall ensure that the buy and sell orders shall be placed in accordance with the terms and conditions of this Agreement at least within 85% of the time of trading hours at NASDAQ Riga First North.
- Minimum Daily Order Size. The minimum volume of buy or sell orders (daily minimum Order Size) shall be EUR 500.
- Maximum Volume. The maximum monetary volume of the transactions executed by LHV under this Agreement per each trading day at Nasdaq Riga shall be EUR 2500 (i.e. five times the daily minimum order size). If this limit is reached, LHV shall be entitled to cancel all bid and ask orders placed for the remainder of that trading day.
- Withdrawal of Orders. LHV shall be entitled to withdraw ask and bid orders or either of these if (i) the market price of the share of the Company fluctuates over 5% either way if compared to the closing price of the previous trading day at NASDAQ Riga First North or the previous transaction executed by LHV in compliance with this Agreement; or (ii) LHV has suffered a loss in the course of the previous transaction executed under this Agreement only for the purposes of covering the loss suffered.
The shares of Madara Cosmetics are admitted to trading on Nasdaq Baltic First North Market.
The Certified Adviser for AS Madara Cosmetics is AS LHV Pank.
MADARA Cosmetics, founded in 2006, is the local pioneer in the field of natural cosmetics. In 2016 and 2017 the company and its managers were ranked among the top-10 Most Admired Business Leaders in Latvia. MADARA develops and manufactures all products exclusively at its own laboratories and facilities to ensure 100% control over processes. Further evidence of its passion for quality and perfection in every detail are the company’s ECOCERT organic certification, GMP and ISO standards, and in vitro and in vivo research. For more information, visit madaracosmetics.lv/investors/.
Additional information
Uldis Iltners
Managing director
MADARA Cosmetics AS
P +371 66154812
uldis@madaracosmetics.com
www.madaracosmetics.com