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, the Company filed an application to the Vilnius Regional Court for the initiation of restructuring proceedings. As announced, the Vilnius Regional Court has admitted the mentioned application.
The restructuring plan, announced on 22, November 2024, stipulates that full settlement with the bondholders will be completed by 31, December 2026.
The Company will seek to reach an agreement with the bondholders regarding the redemption of the Bonds on terms and conditions that align the interests of both the bondholders and the Company. The Company will make every effort to cooperate with the bondholders and the trustee to ensure a smooth and transparent process.
Contacts:
CFO of AUGA group, AB
Kristupas Baranauskas
+370 5 233 5340
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