Considering to the resolution of the repeat ordinary\nmeeting of the public company LINAS shareholders (hereinafter \u2013 the Company)\nheld on 16 May 2019 (hereinafter \u2013 the Resolution of the Meeting) on which\nbasis the Company\u2019s right to acquisition \nown shares was approved and the Company\u2019s Board was instructed to adopt decisions on acquisition of the\nCompany\u2019s own shares, to organise acquisition and sale of own shares, to\nestablish the procedure, time of acquisition and sale of shares, number and\nprice of shares, as well as to perform other actions associated with\nacquisition and sale of own shares in accordance with the conditions laid down\nin the Resolution of the Meeting and requirements of the Republic of Lithuania\nLaw on Companies, the Company\u2019s Board adopted a decision to initiate\nacquisition of the Company\u2019s shares on 18 December 2019 under the following\nconditions:<\/p>\n\n\n\n
1. To acquire\nup to 10% (no more than 2.403.898 psc.) of own ordinary registered company\nshares with a par value of EUR 0.29 each;<\/p>\n\n\n\n
2. The share\nacquisition price is EUR 0.10 per share;<\/p>\n\n\n\n
3. During\nthe first stage it was intended to acquire the Company\u2019s securities in the\nstock exchange NASDAQ Vilnius, AB by official offering from 20 December 2019\ntill 3 January 2020 (inclusive). Orders to sell shares shall be compiled during\nthe whole time of share acquisition. If the supply of shares exceeds the number\nof shares to be acquired, the number of shares to be sold shall be reduced for\nall sellers of shares proportionally. If the supply of shares does not exceed\nthe number of the shares acquisition, the second stage of acquisition of the\nCompany\u2019s shares will take place. <\/p>\n\n\n\n
4. During\nthe second stage the Company\u2019s shares will be acquiring on a commission basis\nin all divisions of the Company\u2019s agent \u2013 AB \u0160iauliai Bank, from 9 January 2020\nto 24 January 2020 (inclusive). If the number of the acquired shares achieves\n1\/10 of the total number of shares, share acquisition will be discontinued.<\/p>\n\n\n\n
The Board of the Company, by adopting the decision to\ninitiate acquisition of the Company\u2019s own shares, sought to determine the share\nmarket price and to provide the shareholders with the most advantageous\nconditions for sale of shares. <\/p>\n\n\n\n
The share market price on the date of the Board\nmeeting, calculated according to Article 34(1) of the Law on Securities (the\naverage market price during 6 months when stocks are traded on regulated\nmarkets), is EUR 0.0966. The Board, by\nseeking to activate the securities market, decided to acquire shares for EUR\n0.10 each. <\/p>\n\n\n\n
The shareholders holding or desiring to have securities accounts have a possibility to sell shares through NASDAQ Vilnius, AB Stock Exchange. Shareholders who do not have and do not desire to have securities accounts have a possibility to sell shares on appearance to any branch of \u0160iauliai Bank. This is especially relevant for the shareholders holding a small number of shares, since by appearing at a branch of \u0160iauliai Bank and selling shares on a commission basis, the shareholders do not pay the fee for opening a securities account, the transaction fee, and other fees associated with securities.<\/p>\n\n\n\n
AB \u201cLinas\u201d chief of finance
Egidijus Mikeli\u016bnas
+370 45 506100 <\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-1203","invest-naujienos","type-invest-naujienos","status-publish","hentry"],"acf":[],"yoast_head":"\n