Riga, 2012-08-31 07:52 CEST (GLOBE NEWSWIRE) -- JSC “Goldinvest Asset Management” (hereafter – Goldinvest) has disposed all its holdings in shares of joint stock company “VEF” (hereafter – VEF) and limited liability company “VEF komunikāciju serviss” (hereafter – VEF KS).
In total 426 377 VEF shares with the share nominal value 1 LVL are disposed, from which 262 326 shares are included in the regulated market and 164 051 share are not included in the regulated market, as well as 1 044 VEF KS shares with nominal value 100 LVL, from which 252 shares are with restricted ownership as settlement with the previous share owner is still pending. The VEF shares are disposed in the exchange of real estate property located on Visbijas prospects 47, Riga, whereas as the result of sale of VEF KS shares the liabilities of Goldinvest will decrease substantially. The both deals are planned to be finalised in the first half of September.
“These deals are favourable to Goldinvest because newly acquired real estate property is being used as pledge for the bank credit facilities, resources from which in its turn are being used for the company’s development. Whereas the sale of VEF KS shares will improve creditability of the Goldinvest and will allow to concentrate to expansion of the key business areas of Goldinvest”, explains Pēteris Avotiņš, chairman of the Supervisory Council of Goldinvest.
About JSC “Goldinvest Asset Management”:
“Goldinvest Asset Management” was founded in 1997 and its key business areas include purchase, processing and sales of household and industrial precious metals, as well as purchase and sales of precious investment metals (gold, palladium, platinum, silver, etc.). The company grants also loans against precious metal pledge. The company has established an affiliated company in Russia, a branch in Lithuania. Shares of the company are listed on the alternative market First North of the stock market NASDAQ OMX Riga. See more information about JSC “Goldinvest Asset Management”: http://www.latgold.lv/
More information:
Mr Arnis Linde
Project Manager
JSC “Goldinvest Asset Management”
Phone: +371 22050691
E-mail: arnis.linde@latgold.lv
Certified adviser:
Mr Girts Apsitis
Chairman of the board
“Ardente” Ltd
Phone: +371 29466577
E-mail: ardente@ardente.lv