Lek is granted a license for further public sale of B-class preferred shares
Ljubljana, 16 March – Last week Lek Pharmaceutical and Chemical Company d.d. was granted by the Slovene Securities Market Agency a license for further public sale of B-class preferred shares. This license is a condition for listing of shares on the Ljubljana Stock Exchange. In the forthcoming days Lek is going to file an application for listing of B-class shares on the Ljubljana Stock Exchange. The listing is expected to start in April 1999.
This public offering will help to improve the liquidity of Lek’s shares. A decision to offer the shares was made at the Annual General Meeting of the Shareholders on 18 June 1998 – a conclusion about conversion of B-class shares into uncertificated securities.
As the shareholders were previously informed, the process of replacing current securities with uncertified securities actually started in November 1998. By March 1999 about 90% of the share documents were no longer certificated. They are now issued in a non-materialized form in electronic form. All the rights of the B-class shareholders, however, remained unchanged.
The Company equally wishes to list B-class share on the Ljubljana Stock Exchange, where A-class shares are already listed. Listing will enable B-class shareholders to trade on the organized Stock Exchange Market directly through stock-brokers.
On this occasion the Company would like to take the opportunity to invite again those B-class shareholders who have not performed the exchange of share at the company’s headquarters to do this as soon as possible