Last update: 06.02.2023 16:45 (GMT+2)

Information on Grindeks cash auction

05.01.1998, , RIG

A/s 'Grindeks' 384,153 common registered shares shall be auctioned on
16, 1998.
Orders shall be accepted by the Riga Stock Exchange from 17:00 on
January 15,
1998, till 10:00
on January 16, 1998. The orders shall be submitted in compliance with
the rules for special quotation described in the Riga Stock Exchange
Enforcement Note on Trading and Quotation. A/s 'Grindeks' securities
code is LV00001000659.
Specific rules for the auction:
1. buy orders only shall be accepted;
2. minimum share price is Ls 2.70;
3. orders 'at market price' shall not be admitted;
4. additional orders shall not be admitted;
5. the orders shall be valid for the respective trading session only.
The Riga Stock Exchange shall calculate:
1. market price of a share in lats, with a precision to one santim;
2. number of shares allocated to a bidder.
The bids where the specified price is above the auction price shall be
executed in full. The bids where the specified price is equal to
auction price may be executed partly, applying allocation coefficient
Ka. The coefficient is calculated by the formula:
Ka (A-B)/A (%), where:
A - number of securities in buy orders where the specified price is
equal to auction price;
B - difference between A and the remaining number securities at auction
Settlement date for the transactions shall be January 21, 1998.
If the shares have not been sold in entirety, the auction may be held
repeatedly with the objective to sell the remaining shares. The
resolution with regard to conducting a repeated auction shall be passed
by the Privatisation Agency.

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