- Obstacles preventing admission to trading identified
- Repeated application to be filed until end of 2017
Luxembourg, 6 October 2017: The management of Nasdaq Riga and Kay Rieck, CEO of Deutsche Oel & Gas S.A. (DOGSA) met in Riga to discuss the reasons preventing admission to trading of B class shares on Alternative Market First North. The parties identified a list of issues which shall be improved when the company will file for repeated application.
Kay Rieck, Chairman of the Board of Deutsche Oel & Gas S.A., said: “We highly appreciate the positive attitude, readiness to cooperate and personal approach of Nasdaq Riga. The requirements identified by the stock exchange are acceptable and will be fulfilled. The status of a public company will materially increase value to our shareholders, therefore we remain committed to file for a new application until the end of this year.”
Rainer Klee, Head Accounting and Controlling of Deutsche Oel & Gas S.A., said: “The status of a public company will benefit the credibility of Deutsche Oel & Gas S.A. and may allow to decrease financing cost, thus benefitting our shareholders. Admission to trading on a stock exchange requires to adjust to transparency and certain corporate governance standards. Tight cooperation with Nasdaq Riga will allow us to learn and plan our future in capital markets.”