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LSC: Opinion of the Management Board of joint stock company’s “Latvijas kuģniecība” in respect of expressing the company’s mandatory bid of share buy-out offer to minority shareholders and its impact
Friday, 21 July 2017

Tags: Board   Estonia   Management   Opinion   Stocks and Options  

Latvijas kugnieciba Other information disclosed according to the rules of the Exchange 21.07.2017 Opinion of the Management Board of joint stock company’s “Latvijas kuģniecība” in respect of expressing the company’s mandatory bid of share buy-out offer to minority shareholders and its impact on the company’s interests On July 17, 2017, the majority shareholder of joint stock company “Latvijas kuģniecība” (hereinafter – LSC or Company) Vitol Netherlands B.V. (hereinafter – Vitol), commenced the mandatory share buy-out offer (hereinafter – the Offer) for the remaining share capital of LSC. The Offer is made pursuant to the decision of the Financial and Capital Market Commission dated July 12, 2017. The Offer is made at EUR 0.71 per share. The Management Board has evaluated the Offer. In evaluating the Offer, the Management Board has assessed whether the Offer represents a fair value for the shares of LSC that it relates to. The Management Board has resolved that the Offer at EUR 0.71 per share represents a fair share price of LSC. The Management Board notes that the price of the mandatory buy-out offers in Latvia is regulated by Article 74 of the Financial Instruments Market Law. As a result of the share buy-out, the shareholder Vitol would be further increasing its interest in the share capital of LSC. The Management Board holds a view that a bigger proportion of the controlling interest in the hands of one shareholder should improve the efficiency of the Company’s operations and its further development. Therefore, the Management Board has resolved that the Offer is in LSC’s interests. The Management Board indicates that it is not aware that Vitol has planned to change the Company’s operating scope, the Company’s location, or to reduce its current staff. About JSC “Latvijas kuģniecība” JSC “Latvijas kuģniecība” (Nasdaq Riga: LSC1R) is vessel owner in the segment of medium and handy size tankers. The company owns 16 modern vessels employing more than 1300 professional and high-skilled seamen from Latvia. Besides, LSC subsidiary “LSC Ship management” Ltd is technically serving 9 more vessels, thus managing a fleet of 25 vessels. The average age of the LSC fleet is 9 years. All of the vessels have received ISM (International Safety Management) certificates. Elīna Dobulāne, Communications Consultant JSC “Latvijas kuģniecība” Phone: +371-25959447 E-mail: edobulane@golin.com www.lk.lv
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Tags: Poland  

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Tags: ETF   Korea   Korea   Risk   South   South   Surging   Without   Mutual Funds and ETFs  

In a year of strength for emerging markets equities and exchange traded funds, tactical investors have not needed to take on excessive risk to profit with single-country ETFs. Just look at the Deutsche X-trackers MSCI South Korea Hedged Equity ETF (NYSEARCA:DBKO). That currency hedged spin South...
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