Daugavpils, 2018-01-19 12:59 CET (GLOBE NEWSWIRE) --
Opinion of the management board of JSC “Daugavpils Lokomotīvju Remonta Rūpnīca” (hereinafter – DLRR) on the company’s final share redemption and its impact on the interests of the company
On 9 January 2018, the Financial and Capital Market Commission made a decision and permitted the shareholder of DLRR AS Skinest Rail to make the final DLRR share redemption for the price of EUR 0.44 per one share.
The management board of DLRR has evaluated the prospectus of the final share redemption and considers it as corresponding to the provisions of the Financial Instruments Market Law.
AS Skinest Rail owns directly and indirectly 7,955,474 shares of DLRR all of which have been included in the regulated market and comprise 95.92% of voting shares and the share capital of DLRR.
The management board of DLRR evaluates positively the offer made by AS Skinest Rail and indicates that in the result of the share redemption AS Skinest Rail will further increase its shareholding in DLRR. Thus, the efficiency of business operations of DLRR will be improved and its further development will be encouraged, allowing to flexibly respond to the market changes.
After DLRR share redemption and exclusion of shares from the regulated market, DLRR will continue its business activities based on the approved strategy and business types determined in the articles of association.
The management board of DLRR points out that change of the location of DLRR or decrease in number of the current work places are not anticipated.
Board of JSC “Daugavpils Lokomotīvju Remonta Rūpnīca”