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Press Release

Correction in Announcement of JSC Olainfarm: the Council of the company has been elected legally and works for the long-term interests of the company


Posted on: 13 Sep 18

Correction in the 3rd paragraph of the Announcement:  Word "the stock exchange" has been replaced with the word "the market",  to clarify the message. 


The new council of JSC Olainfarm has been elected legally, represents the interests of shareholders and works in the long-term interests of the company, implementing and developing the vision of development of Valērijs Maligins. The new management has managed to prevent the company from decrease of its value, and public statements against JSC Olainfarm are seen as desperate attempts to further undermine the company's reputation and bring its value down again.

It is very likely that, thanks to the active involvement of shareholders, it has indeed succeeded in preventing a raiderism attempt against the Company. This is evidenced by the many features that we could observe during the times of previous Olainfarm Council.

While the company was headed by a previous Council, the price of Olainfarm’s shares dropped by 16% and shareholders lost more than 20 million euros. Perhaps it was part of a larger scheme to decrease the value of the Company and take over the power.  The sign of that is also sharp public announcements from previously unsuccessful members of the Council. In turn, most of the company's shareholders, employees, and the market have very positively evaluated the initiatives taken by the new Council - the Company's value has stabilized and growth is evident.

"I invite Nika Saveljeva and Signe Baldere-Sildedze, who represents her twelve-year-old daughter Anna Emilija Maligina, to be constructive and do not strive to undo the reputation of Olainfarm with various public statements and do not turn against the company that was founded by Valery Maligin. If any of the shareholders really are interested in the real work of the company, we invite you to attend any of the shareholders' meetings or council meetings and discuss these issues on-site. So far, unfortunately neither N.Savleljeva,  nor S. Baldere-Sildedze have considered it necessary to do so. It is very likely that for this reason, they have been currently manipulated by other non-business parties, "says Pavel Rebenok, Chairman of the company's Council.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with 45 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company's operations is to produce reliable and effective top -quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 60 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Additional information:

Inga Krūkle, Board Member
JSC Olainfarm
inga.krukle@olainfarm.com
+371 28698449

Pāvels Rebenoks
Chairman of JSC Olainfarm Council
pavels.rebenoks@olainfarm.com
+371 26332366

GlobeNewswire
globenewswire.com

Last updated on: 13/09/2018

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