All new shares of share emission, announced on June 7th, were not subscribed and thus the company has decided to terminate the public offering of shares. The Supervisory Council of AS Baltika decided today to announce new share emission on changed conditions.
“We have met several European investors and as a company we are definitely in the focus of their interest. Unfortunately investors did not have enough interest to subscribe the shares on offered conditions, i.e. with higher price than in the market. Decision of subscribing the shares was also affected by our first quarter results which we cannot be satisfied with,” said Meelis Milder, Chairman of the Management Board of Baltika.
Because of the fact that during the offer period, from 07.06.2011 to 22.06.2011, all the new shares of AS Baltika were not subscribed, the management board of the Company decided today to terminate the public offering of shares.
The Supervisory Council of AS Baltika decided today, on June 27th to announce new share emission on changed conditions. Investors are offered 4 300 000 ordinary shares with the offer price of 0.70 euro per share. The subscription of the shares takes place from 14 July 2011 during two weeks.
„If the last emission had major shareholders´ guarantee in case that certain amount of shares are subscribed by new investors, then over 80% of the new emission is today guaranteed by our shareholders. We are certain that the new emission will also attract new investors´ interest. We thank all of you who showed interest in and subscribed shares during the last emission, but now you will have better opportunity to invest in Baltika,” Meelis Milder added.