OREANDA-NEWS. JSC “Ventspils nafta” hereby provides information in respect of the final repurchase bid expressed by shareholder Euromin Holdings (Cyprus) Limited which commenced on December 18, 2015. 

Pursuant to information already published, the price of one share according to mandatory and final shares repurchase bid prospectus (“Prospectus”) is set at EUR 4,56 and the term of the bid expires on January 18, 2016 (inclusive). 

In accordance with the published Prospectus, the payment for the shares will be performed by AS “LHV Pank” as intermediary within five daysafter the expiry of the offer period. If the term for payment falls on a weekend day or public holiday, the next business day shall be regarded as the payment day.Therefore the payment to the shareholders for the shares will be performed on January 25, 2016. 

The procedure for acceptance of the offer by shareholders and information on the settlement (payment) process is outlined in the Prospectus.

About JSC “Ventspils nafta”

JSC “Ventspils nafta” is one of the largest groups of companies in Latvia and works in the petroleum product transport, transhipment, storage and shipping sector. JSC “Ventspils” nafta is the Group’s parent company, which manages investments in subsidiary companies, by promoting the Group’s joint values and growth in value of each individual company.

JSC “Ventspils nafta” owns 51% in “Ventspils nafta terminals” Ltd, which is the largest crude oil and petroleum product terminal in the Baltics; 66% in “LatRosTrans” Ltd, which is a Latvian-Russian joint venture in the Baltics; 49.94% in JSC “Latvijas kugnieciba”, which is among the largest ship owners in the world in the medium-sized and handy tankers category.

Shares of JSC “Ventspils nafta” (NASDAQ RIGA: VNF1R) are quoted in the Baltic Main List of the stock exchange NASDAQ Riga since October 20, 1998.