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Published: 2015-03-18 15:43:30 CET
Grobiņa
Company Announcement

About the mortgaged property voluntary auction

About the mortgaged property voluntary auction

Lapsu street 3, Dubeņi, Grobiņas parish, Gobiņas district, 2015-03-18 15:43 CET -- On 16 March 2015 the bailiff Inese Bože decreed all JSC "Grobiņa" real estate owned by voluntary auction by JSC “Citadele banka" application. In this context, JSC "Grobina" informs that as already indicated in the management report on the 2014 unaudited financial statements, the company's largest creditor JSC "Citadele banka" in January 2015 established, all new loans to the maturity date of this year's 29th January. Since JSC "Grobiņa" was not able to repay all that period the loans granted, together with the bank was made in the context of the restructuring project aimed at restoring the long-term loans in repayment schedule.

Under the project JSC  "Grobiņa" until 31.03.2015. ensure that: 1) fur animals feed factories in Liepaja, Brīvības Street 119A will be in operation; 2) to repay JSC "Citadele banka" 800 000, -EUR consisting of accrued interest and part of  principal amount of the loan; 3) reduce the payable amount of € 2,340,000; 4) In addition to the need to attract long-term financial resources of at least 500 000 EUR.

Thus, the JSC "Grobiņa" management is actively working to comply with the restructuring project requirements, including 29.01.2015 fur animal feed production plant in Liepaja, Brīvības street Street 119A has already been put into service, just completed the auction in Finnish auction house Saga Furs March , under which the company generated sales 41,913 mink an average price of € 50.17, which will allow the project to make the payments to the bank and to cover the cost of production. Also with regard to the reduction in accounts payable, JSC  "Grobiņa" management has made arrangements with certain unsecured creditors of the project referred to the amount of debt reduction, in which up to 31.03.2015. will be signed. By the way, for additional funding and JSC "Grobiņa" has entered into a preliminary agreement for additional long-term loan 1,000,000 euros extent to which the community is currently being carried out in the financial and legal audits (due diligence). Therefore JSC "Citadele banka" today confirmed in letter to JSC "Grobiņa" management that fulfilling the conditions laid down in the draft restructuring, the bank is ready to enter into an agreement for the 5-7 years long-term loan repayment, thus withdrawing all currently announced real estate auctions.

If You have any questions about the above, please contact JSC "Citadele banka" credit monitoring and restructuring parts of a project manager Ingūna Orlova, phone +371 67010205, e-mail: Inguna.Orlova@citadele.lv

 

 

The Board of JCS “Grobiņa”