Tallinn, Estonia, 2011-03-30 16:14 CEST (GLOBE NEWSWIRE) --
AS Premia Foods received the following information from Amber Trust S.C.A. SICAF-SIF.
The information below relates to the transaction referred to in the stock exchange news as published by the NASDAQ OMX Tallinn Stock Exchange on 28 March 2011 and as available at http://www.nasdaqomxbaltic.com/market/?pg=news&news_id=247647.
Amber Trust S.C.A. SICAF-SIF (hereinafter Amber) and AS LHV Pank (hereinafter LHV) concluded on 23 March 2011 the sale and repurchase agreement (hereinafter the Agreement) with regard to the shares of AS Premia Foods. The transaction will be finalised and settled on 31 March 2011.
According to the agreement Amber sells and obliges to repurchase 1,478,261 shares of AS Premia Foods (hereinafter the Shares). The repurchase of the Shares will be conducted within 12 months. On conditions specified in the Agreement, LHV is entitled to request from Amber the transfer of additional shares of AS Premia Foods as collateral that may be sold by LHV in specific cases (however not before 1 May 2011 when the lock-up period will end).
The Agreement ends 12 months after being concluded or upon its premature termination. In addition to the purchase price, Amber is obliged to transfer to LHV an annual interest for the period between the conclusion and termination of the Agreement. Amber maintains the voting rights and rights to dividends or other payments deriving from the Shares.
AS Swedbank (registry code 10060701) as the global lead manager and book-runner of the initial public offering of the shares of AS Premia Foods has consented to the transaction giving its conditional consent for the sale and transfer as collateral of up to 2,500,000 shares of AS Premia Foods to LHV. According to the above-specified conditional consent LHV may not sell or in any way transfer to third parties, the shares of AS Premia Foods sold or given as collateral by Amber, before 1 May 2011, when the lock-up period ends.
Kustaa Äimä
Amber Trust S.C.A.
Phone: + 358 10 279 0052
E-mail: kustaa.aima@kaimacapital.ee