News

04
03.2014

Acquisitions will be completed

Following the completion of its due diligence analyses, the Latvian Forest Company AB has decided to complete the previously announced acquisitions. As part of this decision, it has signed a share purchase agreement with Bockasjö Skogar AB regarding the acquisition of Forest Holding Latvia AB. In addition, a share purchase agreement is to be signed shortly with the regarding the purchase of the Latvian company SIA Zaveria. The acquisitions cover a total of 3,835 hectares of forest and agricultural land, with an estimated standing timber volume of some 290,000 cubic meters. According to the agreements, the preliminary purchase price totals some SEK 53.7 M with take-over and payment expected to take place in mid-April, provided that sufficient financing has been raised by then. 
 
The total financing requirement is estimated to be a minimum of approximately SEK 57 M. The objective, however, is that the total financing not only will provide the required funds to complete the acquisitions, but that after the transactions, net cash resources of about SEK 5-10 M will be available for continued expansion and purchase of individual properties during 2014. 
 
Consequently, total financing is anticipated to amount to some SEK 66 M, to which sellers and a limited group of investors plan to contribute about SEK 36 M though a targeted share issue. In addition, it is expected that about SEK 15 M will be added by means of bank financing, as well as SEK 15 M through a partially guaranteed preferential rights issue on the same terms offered to sellers and investors in the targeted share issue. More details on the terms underlying the issues and so forth will be communicated as soon as possible.     
 
The acquisitions more than double Latvian Forest Company’s total land holdings and timber volumes. The assessment is that the above moves will strengthen cash flow and provide for substantial economies of scale in forest management. Meanwhile, the property portfolio’s new composition and age structure create conditions for substantial volume growth in the future.  
 

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Record day to receive dividends
01.07.2019

Today, Monday, July 1, 2019, is the record day to receive a dividend. According to a resolution of the Annual General Meeting dividend to the shareholders shall be paid EUR 0.54 per share or a total of EUR 11 075 973. 

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Press release 2019-06-27
28.06.2019

Report from the Annual General Meeting
Latvian Forest Company AB (publ) held the Annual General Meeting on June 27, 2019.

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Annual Report and Consolidated Financial Statements for Latvian Forest Company Aktiebolag (publ)
03.06.2019

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Chairman of the Board Ted Alvenius leaves his post as board member and chairman of Latvian Forest Company AB with immediate effect.
20.05.2019

LFC informs that Chairman of the Board, Ted Alvenius, is of a different opinion than the remaining Board of Directors regarding a transaction involving compensation for value increase in connection with the sale of all shares in the operating subsidiaries.

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Disclosure Notice
16.04.2019

Galjaden Invest AB has increased its holding in Latvian Forest Company AB to 20.03%.

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Press Release - sale of all shares in SIA Latvijas mezu kompanija and Baltic Forest IV SIA.
08.04.2019

Latvian Forest Company has, in accordance with a resolution at the Extraordinary General Meeting on March 27, 2019, completed the sale of all shares in SIA Latvijas mezu kompanija and Baltic Forest IV SIA.

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Disclosure Notice
29.03.2019

Nils Robert Persson has increased his holding in Latvian Forest Company AB.

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NOTICE FROM EXTRAORDINARY ANNUAL GENERAL MEETING
27.03.2019

Latvian Forest Company AB (publ) held the Extraordinary Annual General Meeting on March 27, 2019. The meeting resolved on the sale of all shares in the operating subsidiaries SIA Latvijas Mezu Kompaniju and Baltic Forest IV SIA to SCA Mezs Latvija, SIA

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Summons to Extraordinary General Meeting of shareholders in Latvian Forest Company AB (publ)
13.03.2019

The shareholders of Latvian Forest Company AB (publ), Reg. No. 556789-0495 ("The Company") are hereby summoned to the Extraordinary General Meeting of shareholders to be held on Wednesday, March 27, 2019 at 10.00 in Galjaden Fastigheter premises on Linnégatan 18, Stockholm.

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Latvian Forest Company undertecknar aktieöverlåtelseavtal med SCA Mezs Latvija
08.03.2019

Latvian Forest Company AB undertecknar i enlighet med tidigare ingången avsiktsförklaring ett aktieöverlåtelseavtal med SCA Mezs Latvija, SIA rörande försäljning av samtliga aktier i de rörelsedrivande dotterbolagen SIA Latvijas mezu kompanija och Baltic Forest IV SIA, innebärande en avyttring av bolagets verksamhet.

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Bokslutskommuniké 2018
22.02.2019

  • Bokfört värde på mark- och skogstillgångar uppgår till 24.574 (21.323)TEUR
  • Eget kapital uppgår till 1,145 (1,027) EUR per aktie
  • Fastighetsinnehaven uppgår till 10.452 (9.599) hektar
  • Virkesvolymen uppskattas till ca 1.015.000 (995.160) kubikmeter

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Latvian Forest Company signs letter of intent with Svenska Cellulosa Aktiebolaget SCA with a view of selling the entire share capital of all its operating subsidiaries
04.02.2019

Latvian Forest Company AB signs letter of intent with Svenska Cellulosa Aktiebolaget SCA with a view of selling the company’s operations by way of sale of all shares in the operating subsidiaries SIA Latvijas mezu kompanija and Baltic Forest IV, SIA. The total sale price is estimated to 26 000 000 Euro.

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Interim Report January - September 2018
23.11.2018

  • Book value on land and forest assets of 23.840 (21.062) TEUR
  • Owners’ Equity per share was 1,125 (0,979) EUR
  • Property holdings of 10.357 (9.416) hectares
  • Timber volume was 1.016.600 (960.000) cubic meter

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Interim Report January - June 2018
23.08.2018

  • Book value on land and forest assets of 22.137 (20.850) TEUR
  • Owners’ Equity per share was 1,047 (1,068) EUR
  • Property holdings of 9.877 (9.368) hectare
  • Timber volume was 1.034.000 (940.000) cubic meter

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Come follow us on Instagram!
17.08.2018

Come follow us on Instagram

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European Foresters' Orienteering Championships 2018
01.08.2018

We at Latvian Forest Company are proud supporters of orienteering in Latvia.

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Interim Report January - March 2018
24.05.2018

  • Book value on land and forest assets of 21.924,3 (20.829,8) TEUR
  • Owners’ Equity per share was 1,034 (1,06) EUR
  • Earnings per share 0,008 (0,0039) EUR
  • Property holdings of 9.665 (9.368) hectare

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Interim Report January - March 2017
22.05.2017

  • Book value on land and forest assets of 20.829,8 (19.228) TEUR
  • Owners’ Equity per share was 1,06 (1,03) EUR
  • Earnings per share was 0,0039 EUR
  • Property holdings of 9.368 (8.590) hectare

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Bronsstädet AB largest shareholder
23.09.2014

Bronsstädet AB (556612-1124) has purchased 1.878.616 B-shares in Latvian Forest Company AB (publ). The ownership, after purchases, corresponds to 14.81 percent of capital and 14.01 percent of votes which makes Bronsstädet AB the largest shareholder in Latvian Forest Co.

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