Black Duck Investwanting to ban SIA Olmafarm to deal with its AS Olainfarm shares, suffers a third defeat in the Supreme Court of the Czech Republic.
By decision of 22 September 2021, the Supreme Court of the Czech Republic upheld the decision of the Prague Municipal Court of 31 August 2021, by which the court ruled for the third time Black Duck Invest an application for interim measures Olmafarm a ban on dealing with its AS would be imposed Olainfarm shares.
Black Duck Invest the opinion expressed that the illegal use of the mandatory repurchase offer circumvents the concluded agreement on the alienation of shares Black Duck Invest, The Supreme Court of the Czech Republic did not receive support because it was not presented with evidence and was therefore rejected. In this way, the Supreme Court of the Czech Republic has confirmed that the mandatory repurchase offer made by AS AB City has happened legally.
It is important that the issue of interim settlement is decided in absentia without hearing SIA Olmafarm position in the case. Consequently, the Supreme Court of the Czech Republic, without even hearing SIA Olmafarm, there has been no doubt about Black Duck Invest unfounded arguments.
This confirms that Black Duck Invest The public allegations made on behalf of the Financial and Capital Market Commission are unfounded. The Supreme Court of the Czech Republic has stated that as share repurchases on the regulated market are regulated by EU directives and regulations, it is able to judge the situation in Latvia and does not see contradictions or violations in a situation where individual shareholders have transferred their voting rights and a share repurchase offer has been made.
–
