Emitents | Ventspils nafta, AS |
Veids | Citi |
Valoda | EN |
Statuss | Publicēts |
Versija | |
Datums | 2015-10-15 21:45:18 |
Versijas komentārs | |
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Information received from Euromin Holdings (Cyprus) Limited regarding the mandatory offer
JSC "Ventspils nafta" has been informed by Euromin Holdings
(Cyprus) Limited ("Euromin") that the mandatory offer, set out in
the Prospectus published on 15 October 2015, does not correctly
value of the assets owned by JSC "Ventspils nafta".
JSC "Ventspils nafta" has been informed by Euromin that it believes
the valuation of JSC “Ventspils nafta” reached by the Financial and
Capital Market Commission ("FCMC") in assessing its mandatory offer
is incorrect and contrary to internationally recognised accounting
standards (IFRS) and EU Directive 2004/25/EC.
Euromin is obliged to make the mandatory offer, but cannot do so
other than on the basis of a share price approved by FCMC, based on
its calculation. Euromin has informed JSC "Ventspils nafta"
that this repeated and conditional offer has therefore been made
under pressure, against the prospect that Euromin’s legitimate
shareholder rights would otherwise be suspended.
JSC "Ventspils nafta" has been informed by Euromin that
consequently they will be referring this decision to the Latvian
administrative courts (and, if required, the European Court of
Justice) for review.
About JSC “Ventspils nafta”
JSC “Ventspils nafta” is one of the largest groups of companies in
Latvia and works in the petroleum product transport, transshipment,
storage and shipping sector. JSC “Ventspils” nafta is the Group’s
parent company, which manages investments in subsidiary companies,
by promoting the Group’s joint values and growth in value of each
individual company.
JSC “Ventspils nafta” owns 51% in “Ventspils nafta terminals” Ltd,
which is the largest crude oil and petroleum product terminal in
the Baltics; 66% in “LatRosTrans” Ltd, which is a Latvian-Russian
joint venture in the Baltics; 49.94% in JSC “Latvijas kugnieciba”,
which is among the largest ship owners in the world in the
medium-sized and handy tankers
category.
Shares of JSC “Ventspils nafta” (NASDAQ RIGA: VNF1R) are quoted in
the Baltic Main List of the stock exchange NASDAQ Riga since
October 20, 1998.
Elīna Dobulāne, Communications Consultant
JSC “Ventspils nafta”
Phone: +371-25959447
E-mail: elina.dobulane@vnafta.lv
www.vnafta.lv
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