The Latvian firm Valmiera Glassfibre said recently that its management will propose buying at least part of the company“s one million state-owned shares.
The proposal is expected to be made during a…
The Latvian firm Valmiera Glassfibre said recently that its management will propose buying at least part of the company“s one million state-owned shares. The proposal is expected to be made during a joint meeting between the company“s board and council on 19 September. “One thing is sure, the company will buy shares, but the question of how much is expected to be decided during the board and council meeting,” said Imants Saulitis, Valmiera“s finance manager. “The controlling stake owner, Germany“s Glasseiden GmbH Oschatz, might also be interested in keeping its ownership proportion,” Saulitis added. The capitalisation of Valmiera“s debts to the state led to the creation of one million shares and their value has been set at 1.50 lats.