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 acquisition own shares was approved and the Company\u2019s Board\nwas instructed to adopt decisions on acquisition of the Company\u2019s own shares,\nto organise acquisition and sale of own shares, to establish the procedure,\ntime of acquisition and sale of shares, number and price of shares, as well as\nto perform other actions associated with acquisition and sale of own shares in\naccordance with the conditions laid down in the Resolution of the Meeting and\nrequirements of the Republic of Lithuania Law on Companies, the Company\u2019s Board\nadopted a decision to initiate repeat acquisition of the Company\u2019s shares on 24\nFebruary 2020 under the following conditions:<\/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 the Company\u2019s shares will be acquiring on a commission basis in\nall divisions of the Company\u2019s agent \u2013 AB \u0160iauliai Bank, from 2 March 2020 to 10\nApril 2020 (inclusive). If the number of the acquired shares achieves 1\/10 of\nthe total number of shares, share acquisition will be discontinued. If the\nsupply of shares does not exceed the number of the shares acquisition, the\nsecond stage of acquisition of the Company\u2019s shares will take place. <\/p>\n\n\n\n
4. During\nthe second stage it was intended to acquire the Company\u2019s securities in the\nstock exchange NASDAQ Vilnius, AB by official offering from 15 April 2020 till 29\nApril 2020 (inclusive). Orders to sell shares shall be compiled during the\nwhole time of share acquisition. If the supply of shares exceeds the number of\nshares to be acquired, the number of shares to be sold shall be reduced for all\nsellers of shares proportionally. <\/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 0.0977. 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\nsecurities accounts have a possibility to sell shares through NASDAQ Vilnius,\nAB Stock Exchange. Shareholders who do not have and do not desire to have\nsecurities accounts have a possibility to sell shares on appearance to any\nbranch of \u0160iauliai Bank. This is especially relevant for the shareholders\nholding a small number of shares, since by selling shares on a commission\nbasis, the shareholders do not need to open a securities account, pay the\ntransaction fee, and other fees associated with securities.<\/p>\n\n\n\n
AB \u201cLinas\u201d chief of finance
\nEgidijus Mikeli\u016bnas
\n+370 45 506100<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-1218","invest-naujienos","type-invest-naujienos","status-publish","hentry"],"acf":[],"yoast_head":"\n