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The share repurchase offer which was valid until March 16, 2016, has expired as the condition of the repurchase offer was not met – the number of shares offered for repurchase did not reach 3% of the total number of shares, the statement says.

Amber Beverage Group announced a voluntary repurchase offer for Latvijas Balzams shares in mid-February, seeking to acquire no less than 224,907 shares in Latvijas Balzams distillery, or a 3% stake. If Latvijas Balzams shareholders accepted the offer for a smaller amount of shares, the offer of EUR 9 per share shall become null and void.

Amber Beverage Group already holds 6,746,460 shares or 89.99% in Latvijas Balzams.

Latvijas Balzams posted EUR 55.27 million in unaudited turnover for the first three quarters of 2015, up 7.9% from the same period in 2014, according to the company's report to Nasdaq Riga. The nine-month unaudited profit of Latvijas Balzams was EUR 5.99 million euros, up 20% from January-September 2014.

Shares in Latvijas Balzams are quoted on the Secondary List of the Nasdaq Riga stock exchange.

Latvijas Balzams has been part of Amber Beverage Group since October 2014. Amber Beverage Group was founded and belongs to the Netherlands-registered company S.P.I. Regional Business Unit B.V.