RSE to introduce changes to the "RSE Enforcement Note on Fees for Services Provided by the RSE"

01.11.2004 RIG

RSE Supervisory Board has introduced amendments to the “RSE Enforcement Note on Fees for Services provided by the RSE”, to become effective from January 1, 2005.
The I-list issuers will have to pay an annual listing fee LVL 2,500+0.01125% of average issuer’s market capitalization in the respective quarter of the year; however, not less than LVL 5,000 and not more than LVL 12,000 per year. The listing fees for Main and Free list issuers remain as is:
– Main list LVL 5,000+0.01125% of average capitalization in the quarter, not more than LVL 12,000 per year
– Free list LVL 5,000 per year.
Starting with the next year, the one-time listing fee for Free list will be LVL 5,000, instead of the present LVL 3,000. The said fee for Main and I-list will remain as is: LVL: 10,000 and LVL 5,000 respectively.
Daiga Auziņa-Melalksne, Vice-president, Riga Stock Exchange, says: “After the migration to the new trading platform we have identified and carefully calculated the cost per issuer related to listing and services. If we compare I-list and Free list, starting with January this year, there are no differences in labor consumption related to defining the security, entering it into the system, and implementing all the activities necessary in order to assure the trading of the security on the system. This is why the costs are higher, and hence the decision.
The increase of one-time listing fee for Free list issuers has been postponed to as late as possible: according to the new law, all public companies were expected to pass the decision on listing on the public market during the year when 2003 annual reports are being approved, that is, during this year. The companies still can list on the RSE at the previous lower fee during this year.”
The RSE is reducing the annual fees for the issuers of long-term debt securities, who have listed a number of issues. Presently the issuer had to pay LVL 1,500 per issue; according to the new enforcement note, the fee for the sixth to the tenth issue will be LVL 1,250 per issue; for the eleventh and all subsequent issues – LVL 1,000. The Main list issuers may list debt securities on the Main list at a 50% discount.

For more information, please contact:
Krista Grīntāle
Corporate Communications Director
Riga Stock Exchange
Phone: +371 7212431