AUG1L Agrowill Group AB

Notice of the Decisions and Implementation of the Meeting of Bondholders of ŽŪK AgroBokštai, an indirectly controlled by AUGA group, held on 9 December 2024

Notice of the Decisions and Implementation of the Meeting of Bondholders of ŽŪK AgroBokštai, an indirectly controlled by AUGA group, held on 9 December 2024



On the initiative and by the decision of UAB AUDIFINA, legal entity code 125921757, the trustee of the bondholders (hereinafter – the Trustee), a meeting of the bondholders (hereinafter – the Bondholders) holding the issue of bonds, ISIN code LT0000407496 (hereinafter – the Bonds), of the company ŽŪK AgroBokštai, legal entity code 302485217 (hereinafter – the Issuer), indirectly controlled by AUGA group, AB, legal entity code 126264360 (hereinafter – the Company), was held on 9 December 2024 (hereinafter – the Meeting). 

As the Company announced on 6 December 2024, the Issuer is a company of the Company’s Group in respect of which the court has issued a statement on the initiation of restructuring proceeding. In the proceedings for the commencement of the Issuer’s restructuring proceedings, the court as well as has imposed interim measures of protection, including prohibiting the Issuer from discharging its obligations, collecting debts and/or assets from the Issuer, selling and/or otherwise transferring the Issuer’s assets, and imposed other restrictions (hereinafter – the IMP).  

At the Meeting, the authorised representatives of the Issuer informed the Trustee and Bondholders about the initiation of the Issuer’s restructuring proceeding and the IMP imposed by the court. They also presented their assessment of the impact of these measures on the adoption and implementation of the meeting's decisions. The Bondholders were presented with the Issuer's assessment that, given the validity of the IMP, the decisions on foreclosure of the company's mortgage and the appointment of a property administrator, as outlined in the meeting agenda, could not be implemented if adopted. 

Information about the decisions adopted during the Meeting is available on the Trustee's website   

Although the decisions regarding the foreclosure of the company's mortgage and the appointment of a property administrator were adopted at the Meeting, as mentioned, the Trustee will not be able to implement these decisions due to the ongoing restructuring procedure of the Issuer and the validity of the interim measures. 

Additionally, to ensure transparent cooperation with Bondholders, the Issuer also presented a proposal during the Meeting on how to settle with the Bondholders: namely, to redeem all Bonds no later than December 31, 2026. Until the final redemption date, partial interest payments would be made annually, using the Issuer's planned operational revenues for 2025-2026 and potential external financing. The final decisions on how settlements with Bondholders and other creditors will be made will be determined in the Issuer's restructuring plan. The Issuer will make every effort to fulfil its obligations to Bondholders in accordance with the approved restructuring plan. It is important to note that since the issuance of the Bonds, the Issuer has consistently and properly paid interest to investors on time. 

The Bondholders listened to this proposal from the Issuer but did not vote on it, as this matter will be part of the restructuring plan. According to legislation, Bondholders, as creditors, will have the opportunity to vote on the plan at a later stage of the restructuring process. 

Contacts:    

CFO of AUGA group, AB    

Kristupas Baranauskas    

 





EN
10/12/2024

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Agrowill Group AB

 PRESS RELEASE

Regarding the Redemption of Green Bonds by AUGA group, AB

Regarding the Redemption of Green Bonds by AUGA group, AB In December 2019, AUGA group, AB (hereinafter – the Company) issued a bond offering with a total nominal value of EUR 20,000,000 (hereinafter – the Bonds). The Company had committed to redeem the Bonds from investors and pay the accrued interest by 17, December 2024.  The obligation to redeem the bonds and pay the accrued interest has not been fulfilled. Given that the Extraordinary General Meeting of shareholders on 4th, December 2024, approved the initiation of the Company's restructuring process and its draft restructuring plan,...

 PRESS RELEASE

Regarding an accepted application for restructuring proceedings of AUG...

Regarding an accepted application for restructuring proceedings of AUGA group, AB by Vilnius Regional Court It has been reported that Vilnius Regional Court has accepted the filed application for restructuring proceedings of AUGA group, AB.  Contacts: CEO of AUGA group, AB Elina Chodzkaitė - Barauskienė   

 PRESS RELEASE

Notice of the Decisions and Implementation of the Meeting of Bondholde...

Notice of the Decisions and Implementation of the Meeting of Bondholders of ŽŪK AgroBokštai, an indirectly controlled by AUGA group, held on 9 December 2024 On the initiative and by the decision of UAB AUDIFINA, legal entity code 125921757, the trustee of the bondholders (hereinafter – the Trustee), a meeting of the bondholders (hereinafter – the Bondholders) holding the issue of bonds, ISIN code LT0000407496 (hereinafter – the Bonds), of the company ŽŪK AgroBokštai, legal entity code 302485217 (hereinafter – the Issuer), indirectly controlled by AUGA group, AB, legal entity code 126264...

 PRESS RELEASE

Pranešimas apie 2024 m. gruodžio 9 d. vykusio AUGA group, AB netiesiog...

Pranešimas apie 2024 m. gruodžio 9 d. vykusio AUGA group, AB netiesiogiai kontroliuojamo ŽŪK „AgroBokštai“ išleistų obligacijų savininkų susirinkimo sprendimus ir jų vykdymą Obligacijų savininkų patikėtinio UAB „AUDIFINA“, juridinio asmens kodas 125921757 (toliau – Patikėtinis), iniciatyva ir sprendimu, 2024 m. gruodžio 9 d. įvyko AUGA group, AB, juridinio asmens kodas 126264360 (toliau – Bendrovė), netiesiogiai kontroliuojamos įmonės ŽŪK „AgroBokštai“, juridinio asmens kodas 302485217 (toliau – Emitentas), obligacijų emisijos, ISIN kodas LT0000407496 (toliau – Obligacijos), Obligacijų sav...

 PRESS RELEASE

Initiation of Restructuring Processes for a part of Companies controll...

Initiation of Restructuring Processes for a part of Companies controlled by AUGA group, AB As announced on 11 November, 2024, AUGA group, AB (hereinafter - the Company) by the decision of the Board initiated the restructuring process of the Company, which was approved by the Extraordinary Meeting of Shareholders of the Company on 4 December, 2024.  Additionally, the Board of the Company recommended to the managers of the group companies controlled by the Company to assess the need to initiate restructuring processes for individual companies of the Company’s group. The group companies con...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch