Circular for the mandatory takeover bid to buy up the shares of AB Snaigė has been approved
January 30 2024 - 11:00AM
UK Regulatory
Circular for the mandatory takeover bid to buy up the shares of AB
Snaigė has been approved
JSC Snaigė informs that on 30 January 2024 the
Financial Market Supervisory Committee of the Bank of Lithuania has
approved the circular of the non-competitive mandatory takeover bid
submitted by EDS INVEST 3 UAB, intended for the buy up of the
remaining ordinary registered shares of AB Snaigė.
In the circular of the mandatory takeover bid
submitted to the Bank of Lithuania, the price for one share of AB
Snaigė to be paid by the bidder UAB EDS INVEST 3 is EUR 0.129. This
price consists of the weighted average of the market price of the
shares for the 6 months prior to the date of acquisition of the
shares giving rise to the mandatory takeover bid (i.e. from 27
March 2023 to 27 September 2023, inclusive).
The start date of the implementation of the
mandatory takeover bid is the fourth working day following the
approval of the Circular, i.e. 5 February 2024. The duration of the
implementation of the mandatory takeover bid shall be 14 (fourteen)
calendar days.
The buying of shares will be carried out through
the Official Bidding Market of AB Nasdaq Vilnius, with UAB FMI
Orion Securities as intermediary. Shareholders wishing to respond
to mandatory takeover bid and sell their shares may contact any
financial brokerage firm or credit institution operating in
Lithuania and submit an order to sell their shares in accordance
with the procedure agreed with the relevant financial brokerage
firm or credit institution.
General manager
Darius Varnas
Tel. nr. +370 315 56200
- Summary of the circular EN
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