In the previous press release published today at 14:52, the MAR label had fallen away and the date for the last day of trading including subscription rights was set to 2022-01-11. The correct date should be 2022-01-10.
The Board of Directors of Latvian Forest Company AB (publ) (“Latvian Forest” or the “Company”) has today, pursuant to the authorization granted by the Annual General Meeting, decided to carry out a rights issue of Class- B shares with preferential rights for the Company’s shareholders. The issue comprises a total of approximately SEK 25 million and aims to finance continued expansion through the acquisition of additional forest properties.
The issue is made with preferential rights for the Company’s shareholders. For every ten existing shares regardless of class of shares, one new Class-B share can be subscribed for. The issue price is SEK 7.50 per new Class-B share. Subscription of new shares may also take place without preferential rights.
The record date for the right to participate in the rights issue is 2022-01-12. The last day for trading including the right to subscription rights is thus 2022-01-10. For each share held, one (1) subscription right is granted. Ten (10) subscription rights entail the right to subscribe for one (1) new Class-B share. Subscription takes place between 2022-01-14 and 2022-01-28.
The subscription rights will be traded on Spotlight Stock Market between 2022-01-14 and 2022-01-25. This means that subscription rights can be purchased by those who wish to participate in the issue with preferential rights or who want to increase their participation by purchasing more subscription rights. The subscription rights received must therefore either be used for subscription of shares no later than 2022-01-28 or sold no later than 2022-01-25 in order not to mature. Trading in paid subscribed shares (“BTA”) will take place on Spotlight Stock Market from 2022-01-14 until the issue has been registered with the Swedish Companies Registration Office. Final registration of the issue is expected to take place in mid-February 2022.
In total, the issue comprises a maximum of 3,333,047 new Class-B shares and, upon full subscription, the Company will add SEK 24,997,856 before issue costs, which are estimated to total SEK 0.5 million.
The purpose of the upcoming new share issue is to finance a continued expansion through the acquisition of additional forest properties and to repay debts of approximately EUR 1.5 million. The liabilities relate to credits from existing shareholders used to finance acquisitions in 2021.
The issue memorandum is expected to be published around January 4, 2022. Directly registered shareholders will receive issue accounting and relevant information sent. Other shareholders receive information through the respective trustee/bank. Memorandums and subscription notes will be available on the company’s website www.latvianforest.se.
The issuing institution is Aktieinvest FK AB.
This information is information that Latvian Forest Company AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication on January 4, 2022, through the agency of the contact person set out above.
For further information contact
Aleksandrs Tralmaks, VD
+37129203972
Or visit our website: www.latvianforest.se