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AUGA (AUG): AUGA group, AB seeks to raise up to EUR 20 million of additional equity funding through a public offering by the middle of 2018 - raport 129

Raport bieżący nr 129/2018

Podstawa Prawna:


On January 22, 2018, AUGA group’s, AB (the Company) Management Board decided to initiate the process of raising additional capital through a follow-on public offering of the Company‘s shares.

It is targeted to raise up to EUR 20 million of additional equity funding, which would be used to finance ongoing acquisitions and to invest in further business development. In parallel, the process is also aimed at increasing the liquidity and free float of the Company, making it more investible for both retail and institutional investors alike.

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"During the last few years, AUGA group has consistently executed its strategic plans, signed several successful acquisition deals and demonstrated improving business results. Both the acquisition of UAB KTG Agrar and UAB Raseiniu Agra will provide the opportunities to meet the increasing demand of organic markets and to expand the production of organic products for end consumers. The acquisition of UAB Arginta Engineering, announced today, is another strategic direction for business development of AUGA group“ - states Kestutis Juscius, Chairman of the Board of AUGA group.

The Company has chosen AS LHV Pank (the Advisor), registered in Estonia, to be the financial advisor and will seek to publicly offer the new emission of the Company’s shares by the end of the first half of 2018.

After the Advisor provides its recommendation for the implementation of the share emission process, and the Management Board for the Company decides accordingly, the General Meeting of Shareholders will convene to decide on the increase of the share capital of the Company, through the new emission of the Company’s shares.

Background: AUGA group is one of the biggest vertically integrated organic food producers in Europe. Since 2014 the Company‘s largest shareholder (presently 88.13%) has been UAB "Baltic Champs Group” and it has been facilitating major changes in the enterprise. AUGA group aims to apply the latest scientific knowledge to improve all production processes in sustainable organic farming. The Company‘s final packaged products can be found on the supermarket shelves in the Baltics while export sales are also made to Scandinavia and beyond. The goal is to produce affordable organic food in the most sustainable way. More information can be found at www.auga.lt.

More information:

General Manager

Linas Bulzgys

+370 5 233 5340


PODPISY OSÓB REPREZENTUJĄCYCH SPÓŁKĘ
DataImię i NazwiskoStanowisko/FunkcjaPodpis
2018-01-23Martynas RepeckaCFO

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