Opinion of the Board of the Joint-stock company "VALMIERAS STIKLA ŠĶIEDRA" on the offer of mandatory share buy-back of the company and its impact on the public interest
On February 20, 2018, the Financial and Capital Market Commission decided to allow Heinz-Jürgen Preiss-Daimler and Beatrix Preiss-Daimler, the shareholders of JSC "VALMIERAS STIKLA ŠĶIEDRA" (hereinafter - the Company), to issue the mandatory share buy-back offer (hereinafter the Offer), approving the redemption price of one share is 3,52 EUR.
The Management Board of the Company has evaluated the Offer and has concluded that it complies with the requirements of regulatory enactments.
The Management Board positively evaluates the fact that the bidders do not intend to make changes in the composition of the Board of the Company. It is also positive that Heinz-Jürgen Preiss-Daimler and Beatrix Preiss-Daimler's offer will have no impact on the Company's employment policy – Company’s employees retain jobs in accordance with their employment contracts. Similarly, the Offer will not affect the Company's strategy of operation, as well as the implementation of future plans and the existing activity profile or location.
Taking into account the rapid development of the Company's in recent years, the Board assumes that the Company's value will only increase in the future.