INDEXO board members invest €400,000 in company shares
Two supervisory board members of insurance company IPAS "Indexo" have bought newly issued shares in a private placement worth a combined €400,000. The shares carry a three-year resale restriction with compensation attached.
Two members of the supervisory board of IPAS "Indexo" have acquired newly issued shares of the company in a private placement, with the combined transaction value reaching €400,000, according to a stock exchange announcement.
The buyers are Druvis Mūrmanis, one of INDEXO's founders, and Jānis Pizičs, a partner at investment fund Merito Partners. Neither purchased the shares directly; instead, each acted through a legal entity under his control — SIA "Dziela" and SIA "BWCA" respectively. Separate disclosures for each transaction were published in line with Article 19 of EU Regulation No. 596/2014.
Share capital increase registered
In connection with the issue, Latvia's Enterprise Register recorded an increase in INDEXO's share capital of €40,000 on August 8, 2026, bringing the total to €10,561,531. The new shares are ordinary dematerialized shares with a nominal value of €1.00 each, carrying the same dividend and voting rights as the company's existing shares.
Restrictions on resale
However, special conditions apply to the shares purchased by the board members, approved by a decision of the extraordinary shareholders' meeting on July 1, 2026. These impose a three-year prohibition on selling the shares, counted from the date each board member was appointed. Once that period expires, the board member is entitled to compensation equal to 15% of the invested amount as remuneration for the restriction on their right to dispose of the shares.
