Regarding analysis of the strategic alternatives, related to shares of Litagra, UAB, held by the company
The Board of Invalda LT, AB is analysing strategic options, related to shares of one of the largest agricultural groups in the Baltics - Litagra, UAB, held by Invalda LT, AB. During this process it is possible that all or part of Litagra, UAB shares will be transferred in one or several transactions, as well as other transactions, which would increase the value of investment, made by Invalda LT, AB.
The company hereby informs that there are no assurances or guarantees that the pursuit of strategic options will lead to adoption of concrete decision regarding transfer of shares of Litagra, UAB, held by Invalda LT, AB (part thereof) and/ or conclusion of any transaction in connection therewith. Consequently, following completion of the analysis of the strategic options, Invalda LT, AB may decide not to take any actions, related to transfer of shares of Litagra, UAB, held by Invalda LT, AB (part thereof).
Invalda LT, AB owns 54.55 percent of shares in Cedus Invest, UAB, which holds 36.9 percent of votes in Litagra, UAB, therefore the effective part of Invalda LT, AB owned votes in Litagra, UAB is 20.1 percent. This block of shares represents significant part of assets of Invalda LT, AB. Furthermore, Darius Sulnis, the president of Invalda LT, AB, is also the Member of the Board of Litagra, UAB.
The companies of Litagra, UAB group are engaged in the primary crop and livestock production, grain processing and agricultural services, management and consulting of companies as well as investments. Group companies trade in plant protection products, fertilizers, seeds, compound feed, feed supplements, veterinary products. Moreover, companies trade in grain, provide drying of grain and other raw materials, cleaning, loading and storage services.
Following audited data, in 2012 the consolidated sales of Litagra, UAB group amounted to LTL 429.2 million (EUR 124.3 million). Earnings before interest, taxes, depreciation and amortization was LTL 38.86 million (EUR 11.3 million), the net profit was LTL 20.405 million (EUR 5.9 million).
The person authorized to provide additional information:
Darius Sulnis
President
Phone +370 5 279 0601
Email: darius@invaldalt.com
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