On the mandatory share repurchase offer

Financial and Capital Market Commission on July 28, 2021 informed about the decision to allow JSC “Rīgas autoelektroaparātu rūpnīca” shareholder SIA “BH Autoaparāts”,reg.No.40003396389, to announce the mandatory takeover bid of JSC “Rīgas autoelektroaparātu rūpnīca” shares, approving the shares repurchase price of EUR 0,46 (forty six cents) per share of the JSC “Rīgas autoelektroaparātu rūpnīca”.

The announcement of the mandatory share repurchase offer was published in the official journal “Latvijas Vēstnesis” on July 29, 2021.

The Board of  JSC  “Rīgas autoelektroaparātu rūpnīca” has evaluated the mandatory share repurchase offer of the SIA “BH Autoaparāts” and concluded that it complies with the requirements of regulatory enactments.

Taking into account the fact that Offeror intends to continue the commercial activities of the JSC  “Rīgas autoelektroaparātu rūpnīca”, the Board considers that the implementation of the Offer is not related to change of bisiness principles and suspension or termination of the main industry wholesale and retail.

The employees of the JSC “Rīgas autoelektroaparātu rūpnīca” will keep their jobs in accordance with the concluded agreements. Thus, employment in the JSC “Rīgas autoelektroaparātu rūpnīca” will not be affected, as well as the location of business will not be changed.

The closing of the share repurchase offer will be followed by the exclusion of the shares from the regulated market.

The Board of JSC “Rīgas autoelektroaparātu rūpnīca”  Gunārs Lubis  ,                                         gunars@tkl.lv , 29234881