The National Commission for Financial Markets (CNPF) published a notice informing shareholders of JLC SA in Chisinau (formerly Lapte) of their right to require the company to purchase the shares they hold, following the registration of the company’s VI and VII additional share issues which cumulatively exceed 25% of the company’s placed shares and are treated as major transactions under applicable law. CNPF approved the registration of the results of the VI and VII additional share issues on 10 September 2024 and 25 February 2025. After the increase, JLC SA’s share capital will be MDL 74,228,000, divided into 1,325,500 registered ordinary Class I shares with a nominal value of MDL 56 per share. Under Article 77(11) of Law No. 1134/1997, the company is required to buy the shares held by shareholders recorded in the shareholder register on the date the company adopted the decision on the VII additional share issue, approved by the general meeting of shareholders on 11 November 2024. As the shares have not formed a market price because they have not been traded on a regulated market or multilateral trading facility, the buyback price must equal the net asset value per share based on the latest financial statements, calculated by the company’s censors’ commission, with the net asset value per share at 31 December 2023 indicated as MDL 357.47. The buyback process is to be conducted after the increased share capital is registered with the Public Services Agency. Shareholders may submit a written request within three months from that registration date, and the company must complete the purchase within one month from receipt of the request, with requests submitted after the three-month period potentially subject to rejection.
National Commission for Financial Markets 2025-03-03
National Commission for Financial Markets notifies JLC SA shareholders of mandatory share buyback right triggered by additional share issues exceeding 25%
The National Commission for Financial Markets announced that JLC SA shareholders in Chisinau can require the company to buy back their shares following significant additional share issues. The buyback price will be based on the net asset value per share, calculated as MDL 357.47 as of 31 December 2023, due to the absence of a market price. Shareholders must submit requests within three months after the increased share capital is registered with the Public Services Agency.