VILNIAUS BALDAI AB has acquired land plots for the new factory construction UPDATED

On May 11, 2018 Vilniaus Baldai AB has acquired 100 percent of shares of Trenduva UAB. Shares are acquired for 2500 EUR from Invalda privatus kapitalas AB (code 303075527, address Šeimyniškiu str. 3, Vilnius, register where data of the Company is accumulated and stored – Register of Legal entities), which owns 86% of VILNIAUS BALDAI AB shares.
Trenduva UAB owns two land plots of 18,5 ha in Trakai region, Guopstai. Land plots have purpose of usage as industrial and warehousing, as well as communication and engineering corridors.
According to VILNIAUS BALDAI AB audit committee Trenduva UAB shares acquisition contract is made according to market conditions, is fair and reasonable from VILNIAUS BALDAI AB shareholders who are not party to the deal point of view. Trenduva UAB shares price is based on the company’s financial ratios and is considered to be reasonable and fair.
VILNIAUS BALDAI AB plans to use this land for further production expansion.
Update:
VILNIAUS BALDAI AB subsidiary Trenduva UAB has acquired land plots for the new factory construction from unrelated parties at the market price, total land plots acquisition price stands at 1803 thousand EUR. Land acquisition was financed from VILNIAUS BALDAI AB funds by issuing short term loan (at the market conditions). Until Trenduva UAB shares acquisition, loan was guaranteed by sole Trenduva UAB shareholder Invalda privatus kapitalas AB.
According to VILNIAUS BALDAI AB audit committee these transactions are fair and reasonable from VILNIAUS BALDAI AB shareholders who are not party to the deal point of view. All information related to these transactions will be disclosed in consolidated VILNIAUS BALDAI AB financial reports.

Additional information:
Chief Financial Officer
Jonas Krutinis
Tel.: +370 (5) 252 57 00