Published: 2020-07-03 12:45:11 CEST
Pillar Capital, AS
Inside information

On Changes in the Group of New Hanza Capital, AS

Riga, Latvia, 2020-07-03 12:45 CEST -- In the course of optimization of the structure of the group provided in the restructuring plan of New Hanza Capital, AS, there has been liquidation of limited partnership company Pillar Holding Company, KS (hereinafter – PHC) owned by New Hanza Capital, AS, in accordance with Section 103 of the Commercial Law.

The entry about suspension of PHC and exclusion of it from the Commercial Register was made in the Commercial Register of the Register of Enterprises of the Republic of Latvia on 3 July 2020.

Also we would like to inform that at the end of June 2020, a member of PHC, the general partner Pillar, SIA informed the other member, limited partner New Hanza Capital, AS about its plan to leave PHC in accordance with Paragraph One of Section 99 of the Commercial Law.

And on 25 June 2020, in the result of transfer of PHC company, PHC transferred to it 100% of shares owned by it in subsidiaries Pillar 2, 12 & 14, SIA, Pillar 3, SIA, Pillar 4 & 6, SIA, Pillar 11, SIA, Pillar 18, SIA, Pillar 19, SIA, Pillar 20, SIA, Pillar 21, SIA and Pillar 22, SIA, as well as investment owned by it – 0.95% shares of Pillar 23, SIA, to the member of PHC – New Hanza Capital, AS.

In the result of transfer of PHC company, New Hanza Capital, AS shall receive also other assets and liabilities of PHC.

New Hanza Capital, AS is a company founded in 2006. The objectives of its operation include investing own and third party funds in commercial real estate objects to achieve sustainable increase in income from renting the premises and enlarging of the value of properties.

         Artūrs Eglītis
         Head of Communications
         New Hanza Capital, AS