THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION WHERE SUCH ACTION IS SUBJECT IN WHOLE OR IN PART TO LEGAL RESTRICTIONS. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO ACQUIRE SECURITIES. SEE ALSO THE “IMPORTANT INFORMATION” SECTION BELOW IN THE DOCUMENT.
Latvian Forest Company AB (publ) (“Latvian Forest Company” or the “Company”) hereby publishes a prospectus in connection with the rights issue that the Company carries out with subscription period April 21 – May 5, 2021.
The Board of Directors has prepared a prospectus regarding the rights issue of Class-B shares that the Board of Directors resolved on April 12, 2021, to carry out pursuant to authorization from the Annual General Meeting on June 29, 2020. The Rights Issue comprises a total of approximately 78.2 MSEK and aims to finance continued expansion through the acquisition of additional forest properties. The issue is subject to subscription commitments corresponding to approximately 43.4 percent of the issue amount.
The prospectus has today, April 20, 2021, been approved and registered with the Swedish Financial Supervisory Authority and is currently available on Latvian Forest Company’s website www.latvianforest.se and on Aktieinvest FK AB’s website www.aktieinvest.se. The prospectus will also be available on the Swedish Financial Supervisory Authority’s website, www.fi.se.
Summary of main issue terms
- Eight (8) existing shares in the Company entitle the holder to subscribe for five (5) new Class-B shares.
- The subscription price per share is SEK 6.10.
Indicative schedule
- April 21 – April 30, 2021, Trading in subscription rights
- April 21 – May 5, 2021, Subscription period
- April 21, 2021, until registration with the Swedish Companies Registration Office Trade in BTA
- May 7, 2021, estimated date for publication of the outcome of the issue
Directly registered shareholders will receive information about the issue. Other shareholders receive information through the respective nominee/bank.
For more information about the issue, please refer to the prospectus.
Counsellor
The issuing institution in connection with the issue is AktieInvest FK AB. HWF Advokater AB is legal advisor.
This information was submitted for publication, through the agency of the contact person above, on April 20, 2021.
For further information please contact
Aleksandrs Tralmaks, CEO
+37129203972
Or visit our website: www.latvianforest.se
About Latvian Forest Company
Latvian Forest Company AB (publ) is a Swedish listed company that acquires, sells, and conducts forestry on advantageously valued forest in Latvia. The three main foundations of the business are, in addition to the fact that forests are a sought-after real asset that grows on its own.
- an expected increase in the price levels of Latvian forest and agricultural properties
- to create value growth through active forest management
- to create value growth by building up a larger property portfolio.
IMPORTANT INFORMATION
This press release is not an offer to sell or acquire securities in the Company and investors shall not subscribe for or acquire any securities other than based on information in growth prospectuses regarding the Offering.
This press release is not provided, and may not be disseminated in or sent to, the United States, Australia, Canada, Japan, or any other jurisdiction where such dissemination would be unauthorized or require registration or other measures. The securities described in this Communication have not and will not be registered in accordance with the United States Securities Act of 1933 (the “Securities Act”) in force and may therefore not be offered or sold in the United States without being registered or subject to an exemption from registration under the Securities Act and in accordance with applicable securities laws of U.S. states. The Company does not intend to register any offer in the United States or to make any public offering of securities in the United States.
This communication may contain certain forward-looking statements. Such statements are all statements that do not relate to historical facts and contain expressions such as “believe,” “estimate,” “expect,” “expect,” “assume,” “anticipate,” “intend,” “may,” “continue,” “should” or the like. The forward-looking statements in this release are based on various estimates and assumptions, which in several cases are based on additional assumptions. Although the Company believes that these assumptions were reasonable at the time they were made, such forward-looking statements are subject to known and unknown risks, uncertainties and other material factors that are difficult or impossible to predict and that are beyond the Company’s control. Such risks, uncertainties and material factors may cause actual results to differ materially from those expressly or implicitly stated in this communication through the forward-looking statements. The information, opinions and forward-looking statements contained in this release apply only as of the date of this notice and may change without notice.