Published: 2017-03-15 07:38:54 CET
HansaMatrix
Inside information

ADDITIONAL: AS HansaMatrix shareholder’s notification about auction process

AS HansaMatrix (ticker: HMX1R) (‘The Company') has received a notification from its largest shareholder, SIA “Macro Rīga” (‘The Shareholder') about the intention to reduce the amount outstanding on a shareholder loan by selling up to similar value of shares.

Riga, 2017-03-15 07:38 CET -- During the course of divesting of bad assets in 2015, a shareholder loan was granted to SIA “Macro Rīga”. The amounts outstanding (current and non-current assets) as at December 31, 2016 were approximately EUR 2.47m. The Shareholder has announced its intention to reduce the loan amount outstanding by selling up to a similar value of shares via an auction process on Nasdaq Riga’s trading system.

Proceeds from the auction process would be primarily used to repay the outstanding loan amount, generating additional cash resources for the Company to be used in various investment projects. An additional benefit would be the increase of the free float of the Company (and potential additional liquidity).

According to information from the Shareholder, the intended selling price has been designated to be EUR 6.90 per share. Since the admission to trading, shares of the Company have traded in a EUR 6.95 – 8.15 range during auto-match continuous trading. This is also slightly above the EUR 6.85 price during the block (negotiated) transaction of 56,100 shares on January 4, 2017.   

ADDITIONAL INFORMATION:

On March 14, 2017 Financial and Capital Market Commission has approved public auction process of AS "HansaMatrix " 362 000 shares offered by largest shareholder SIA "Macro Rīga".

Public auction dates scheduled for March 22 - 24, 2017.

More details will be published when additional information is available.
 

Investor and media contact:

Ms. Zanda Lapāne

Assistant to the CEO

Phone: (+371) 6780 0002

e-mail: invest@hansamatrix.com

http://www.hansamatrix.com

About AS HansaMatrix

HansaMatrix is a fast-growing, high-technology company offering product design, industrialization and complete manufacturing services in data networking, Internet of Things, industrial segments and other services to high added value business segments. In addition to complete manufacturing services of OEM products, the company offers an ODM business model to both start-up and established companies that seek product development partnerships.