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Published: 2023-03-21 08:17:06 CET
MADARA Cosmetics
Changes in share capital and votes

Notification on the increase of share capital of AS “MADARA Cosmetics”

Inside information, 2023-03-21 08:17 CET -- AS “MADARA Cosmetics”, registration number: 40003844254, legal address: Zeltiņu iela 131, Mārupes novads, Mārupe, LV-2167, Latvia (hereinafter “the Company”), hereby informs that in accordance with the decisions adopted by the shareholders meeting on 22 May 2018 the issuance of the Company's employee share options and the related conditional increase of the Company's share capital has been approved.

With the execution of conversion of employee share options, the Management Board of the Company decided on March 6, 2023 to increase the share capital of the Company by EUR 100.00 (one hundred euro), by issuing new 1000 (one thousand) bearer shares with a nominal value of EUR 0.10 (ten euro cents) per share, which has been registered in the Commercial Register as of March 20, 2023.

The newly issued shares are distributed to the employee share option plan participants in proportion to the number of share options held by them in accordance with the Company's employee share option (share purchase right) plan of 30 May 2018. After the increase of the share capital, the total share capital of the Company comprises EUR 377 491.10 (three hundred seventy seven thousand four hundred ninety one euro and ten euro cents).


The Management Board of AS “MADARA Cosmetics” 


The shares of Madara Cosmetics are admitted to trading on Nasdaq Baltic First North Market.

The Certified Adviser for AS Madara Cosmetics is ZAB Eversheds Sutherland Bitāns SIA.

MADARA Cosmetics was founded in 2006 and has become one of the leading manufacturers of cosmetics in Northern Europe and the leader in Latvia. The cosmetics brand MÁDARA represented by the company is a pioneer in the segment of natural beauty care and make-up cosmetics in Latvia. In 2016 and in 2017, the company ranked in the Top 10 of the Most Reputable Companies of Latvia. At the beginning of 2017, the limited liability company was transformed to a joint-stock company. Since November 2017, the company’s shares have been listed on the “Nasdaq Baltic” alternative market “First North”. The company has been awarded the European “Role Model” award of the “SME Star Awards 2018” organised by the European Parliament in Brussels for small and medium companies. In 2019, the company received the Excellence Award at Nasdaq Baltic Award 2019 and is one of the companies that rings the bell of the trading session on the Nasdaq Stock Exchange in New York. At the end of 2020, the idea of AS MADARA Cosmetics gained worldwide recognition and won the World Intellectual Property Organization (WIPO) award WIPO IP Enterprise Trophy. For more information, visit investors.madaracosmetics.com.

         Contact information:
         Address: 131 Zeltiņu Street, Mārupe district, Mārupe, LV 2167, Latvia
         Contact person: Uldis Iltners, member of the Management Board
         E-mail: uldis@madaracosmetics.com
         Phone: +371 67 470 243
         Certified adviser:
         ZAB Eversheds Sutherland Bitāns SIA
         Contact person: Justīne Ignatavičute
         E-mail: justine.ignatavicute@eversheds-sutherland.lv
         Phone: +371 28 665 066