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NASDAQ OMX Riga suspends trading in Liepajas metalurgs shares

BC, Riga, 08.05.2013.Print version
Today, the board of NASDAQ OMX Riga decided to immediately suspend trading in joint-stock metallurgical company Liepajas metalurgs (LM) shares, according to the stock exchange's announcement, informs LETA/

The trading was suspended due to price-sensitive information available in the mass media, NASDAQ OMX Riga informs.


As reported, the largest LM shareholders – Sergejs Zaharjins and Ilja Segals, have agreed in principle to sell their shares in the company for LVL 1 each, financial consulting firm Prudentia spokesman Karlis Krastins told reporters yesterday after a Cabinet of Ministers' meeting.


He explained that discussion on possible sale of LM shares will continue, and that it will also take place with the company's third shareholder, Kirovs Lipmans.


After yesterday's Cabinet meeting, Economy Minister Daniels Pavluts said that the company's shareholders have fulfilled only one of the five conditions previously set, thus discussion on what action to take will continue.


Meanwhile, earlier yesterday, Lipmans rejected the offer of financial consultants Prudentia Advisers and LM creditors to purchase his shares in the company for a symbolic lat.


LM lenders have offered to purchase the shares of Zaharjins, Segals and Lipmans for LVL 1 a piece, according to a letter to the company sent by Prudentia and LM creditors.

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