Luxembourg, 15 December 2017: In preparation for the planned listing in Riga, a total of 208,837,736 Class A shares were converted into Class D shares by notarial deed on 13 December 2017.
By taking this measure, the main shareholder Alecto Ltd. (158,162,655 shares; controlled by Kay Rieck) has underlined its willingness voluntarily to undergo a long-term lock-up period. In accordance with the company’s Articles of Association, Class D shares can be sold only with the consent of the Board of Directors over a period of three years from their date of issue. At Kay Rieck, this voluntary lock-up period comprises a total of four years.
In addition, the Class A shares of Deutsche Oel & Gas S.A. (50,451,735 shares) and of Deutsche Oel & Gas I S.A. (223,346 shares) were also converted into Class D shares. As a result of the successful conversion, the company’s subscribed capital of EUR 502,435,652 is now divided into 136,068,810 Class A shares and 366,366,842 Class D shares.