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International Internet Magazine. Baltic States news & analytics Saturday, 20.04.2024, 16:13

Share capital increase of airBaltic finalised

Alla Petrova, BC, Riga, 16.04.2015.Print version
During the shareholders' meeting of the Latvian airline airBaltic on Tuesday, April 14th 2015, a final decision was made to finalise an increase of the company’s share capital, reported BC the head of the communications department of Transport ministry Aivis Freidenfelds.

Following capitalisation of funds already invested in previous years, the share capital of airBaltic, after being denominated in the euro, makes up EUR 82,634,635, of which 99.8% or 82,633,604 shares belong to the state.

 

The process of increasing the share capital commenced in 2011. The share capital was increased pursuant to provisions of the airBaltic restructuring plan and the plan approved by the European Commission.

 

On Monday, April 13, the Riga Regional Court (Rīgas Apgabaltiesa) ruled in favour of the Ministry of Transport, which was seeking termination of restraint of 224,453 registered shares in JSC Air Baltic Corporation that belonged to the State of Latvia and had been restrained to secure a claim. The decision of the court has come into effect and cannot be appealed.





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