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Ceturtdiena 27.10.2016 | Name days: Lilita, Irita, Ita

Euromin owns 98.99% of Ventspils nafta stocks

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUFollowing the conclusion of the stocks buy-back offer, Ventspils nafta stockholder Euromin Holdings Cyprus Limited has procured additional 0.009% stocks of Ventspils nafta. Now the company owns 98.99% of VN stocks.

Euromin has procured 9311 additional stocks or 0.009% of stocks for EUR 24,457, as mentioned in Euromin’s report to Nasdaq Riga.

Euromin currently owns 103,425,131 VN stocks or 98.99% of the company’s capital.

The total number of vote-ready stocks of Ventspils nafta is 104,479,519.

On 2 December Ventspils nafta Council decided to pull company stocks from Nasdaq Riga exchange.

As previously reported, following the conclusion of the mandatory buy-back offer in November, Euromin became the owner of 98.96% VN stocks.

The buy-back offer applied to 6,109,454 VN stocks. Now Euromin owns 103,395,234 VN stocks or 98.96% of the company’s vote-ready stocks capital.

The price of each individual stock detailed in the buy-back offer was EUR 4.56.

Ventspils nafta stocks have been listed on Nasdaq Riga exchange since 1998. Stockholders of Ventspils nafta plan to decide on pulling VN from the regular market in December.

Euromin was obligated to announce a buy-back offer of VN stocks to other stockholders after the September deal, in which Euromin had bought 43.25% of stocks from Latvijas Naftas tranzīts for EUR 79.98 million. This allowed Euromin to acquire 93.24% of the company’s total vote-ready stocks. According to information from the deal, the price of each stock was EUR 1.77.

Euromin continued to procure stocks even after this deal.

Ventspils nafta is one of the largest company groups in Latvia. It works in the field of oil product transport, shipping and storage. Ventspils nafta is the parent company. It manages investments in companies part of its group and assess the total value and growth potential of each individual company.

Ventspils nafta owns 51% of stocks in Ventspils nafta terminals, which is the largest oil and oil product handling terminal in Baltic States; 66% of stocks in LatRosTrans, which is a joint Latvian-Russian company in Baltic States; 49.94% of stocks in Latvian shipping company, which is one of the largest ship owners in the medium and handy-type tanker segment in the world.


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