Last update: 22.07.2024 15:15 (GMT+3)

Trading of JSC "Staburadze" shares suspended

20.09.2001, , RIG

On September 21, 2001 JSC "Staburadze" share trading on the RSE
Official list was suspended. Riga Stock Exchange Management Board
passed the resolution on the basis of Item 25.5 of the RSE Enforcement
Note on Securities Lists, which stipulates that trading may be
suspended in case the issuer's securities do not meet market safety
requirements or may be detrimental to investors' interests. At the
moment the RSE has not received information about the financial
situation of "Staburadze" and its subsidiaries, and the intention of
"Nordic Food", a majority shareholder of "Staburadze", to buy out
"Staburadze" shares. Taking into account that Staburadze and its
subsidiaries have been involved in a number of transactions resulting
in commitments have a material effect on the value of shares and the
interests of minority shareholders, the RSE Management Board has
initiated an investigation of the said transactions.

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