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Thursday, 25.04.2024, 19:34
Olainfarm CEO Maligins sells company's shares to increase Olainfarm stake in Silvanols
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The total number of Olainfarm shares is 14,085,078.
According to Olainfarm unaudited consolidated report for the first three months of 2014, as of March 31 Maligins owned 3,821,266 company's shares, plus 5,994,054 shares via the company Olainfarm, or 9,815,320 shares in total.
Maligins said that selling the shares was part of the deal to acquire Silvanols, another Latvian pharmaceutical company.
"We are seeing that Silvanols has significant potential for development, therefore we wish to play a more prominent role and be further involved in the company's successful operations. We agreed with the company's former owners about buying Silvanols shares, ensuring that they could buy part of my shares in Olainfarm in turn," explained Maligins.
With the deal, Olainfarm will have a 97% stake in Silvanols.
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