Published: 2019-03-13 15:00:00 CET
Vilniaus Baldai
Notification on material event

VILNIAUS BALDAI AB subsidiary has signed short term loan agreement

On March 13, 2019 VILNIAUS BALDAI AB subsidiary company Trenduva UAB and Invalda privatus kapitalas AB which owns 87,67% of VILNIAUS BALDAI AB shares has signed the short-term loan agreement for a period of 90 days up to the amount of 3 000 000 EUR, for the fulfillment of its obligations.

According to VILNIAUS BALDAI AB audit committee short term loan agreement 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.

1. The short-term loan will be used to fulfill the obligations.

2. Interest rates of the loan is 3% which are lower than the Bank of Lithuania's rate of interest to providing more than 1 million Euro loans to businesses in January 2019 (3.31%).

3. The Company does not provide to the lender any collateral.

Additional information on transactions with related persons is provided on the website of VILNIAUS BALDAI AB

Additional information:
Chief Financial Officer
Edgaras Kabečius
Phone No.: +370 (5) 252 57 00