Duke I S.à r.l made a buyout offer to acquire the remaining 16.86% stake in AS Valmieras stikla skiedra (MUN:W2R) from P-D Management Industries-Technologies GmbH and others for €2.18 million on March 1, 2021. Under the terms of transaction, Duke agree to pay €0.54 per share. On March 1, 2021 the Financial and Capital Market Commission (FCMC) has accepted for further processing application of Duke as it currently holds 84.14% stake comprising 19.87 million shares of Valmieras. The transaction is subject to legal protection proceedings, in accordance to the Law on the Financial Instruments Market Article 74, part (7), the share repurchase price in the mandatory takeover bid should be the liquidation value of takeover bid will last for 30 (thirty) calendar days, from the day when information on the takeover bid in the official journal “Latvijas Vestnesis” is published. On March 29, 2021, Valmieras held an extraordinary shareholders’ meeting and decide to exclude all bearer shares of Valmieras from JSC “Nasdaq Riga” Baltic Second list. On April 6, 2021 FCMC has accepted for further processing application for the mandatory takeover bid. On April 13, 2021 FCMC decided to allow Duke I to announce the mandatory takeover bid of Valmieras. The mandatory buyout offer will take effect on April 17, 2021 and close on May 17, 2021. Duke I S.à r.l completed the acquisition of 0.93% stake in AS Valmieras stikla skiedra (MUN:W2R) for €0.12 million on May 17, 2021. Duke I will now have 20.09 million shares of Valmieras representing 84.07% stake.