Delisting of AS "VEF Radiotehnika RRR" shares from the Baltic Secondary list
Nasdaq Riga decided on December 11, 2020 to delist AS "VEF Radiotehnika RRR" shares (RRR1R, ISIN code: LV0000100972) from the Baltic Secondary List. The last listing day for AS "VEF Radiotehnika RRR" shares is set to December 31, 2020.
Decision is based on Nasdaq Riga Rules on Listing and Trading of Financial Instruments on the Markets Regulated by the Exchange Article Article 21.4.1. Sub article 5, which stipulates that the Exchange has the right to take a decision on delisting of financial instruments of the issuer from the Exchange in case the issuer has not paid the specified listing fee to the Exchange upon repeated notice
On October 2, 2020 the observation status was assigned to the company, due to fact that the Issuer has not paid the listing fee within the time limit and in the amount specified by the Exchange and the payment was overdue for more than 6 months. At the extraordinary general meeting of the company held on November 20, 2020, the shareholders of the company rejected the proposal made by the management board of the company to raise funds from the shareholders to repay the Exchange debt.
Nasdaq Baltic is a common name for exchanges, regulated markets, alternative markets First North operated by Nasdaq companies in the Baltic states, i.e. Nasdaq Tallinn AS, Nasdaq Riga AS and AB Nasdaq Vilnius