Announcement from the exchange
Observation status applied to SIA “Baltic Dairy Board”
Nasdaq Riga decided on May 2, 2019 to immediately apply observation status to SIA “Baltic Dairy Board” (BDBB180024A, ISIN: LV0000801595).
Observation status will be applied according to Nasdaq Riga Listing and Disclosure rules Article 20.1.2, Subarticle 2, which stipulates that the Issuer shall be placed on observation status if the Issuer has had permanent insolvency problems.
In the audited annual report for 2018 of SIA “Baltic Dairy Board” the auditor has expressed the adverse opinion and stated the following: “The term of the Company’s financing agreement with the credit institution has expired and the loan had to be repaid by 15 May 2018. The Company has not been able to agree on the terms of refinancing or to obtain substitutional funding. The situation is the subject of material uncertainty, which may rise to significant doubt about the Company’s ability to continue as a going concern.”
The purpose of assigning observation status is to alert the market participants.
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.