Published: 2019-06-03 08:00:00 CEST
Vilniaus Baldai
Notification on material event

VILNIAUS BALDAI AB sold part of owned real estate

VILNIAUS BALDAI AB has completed the sale transaction of its second production unit real estate located at Šaltupio str. 9B in Vilnius for an amount of EUR 2 890 001 to the subsidiary of Invalda Privatus Kapitalas AB on May 31, 2019.

The property was sold at the market value determined by an independent property valuation company Ober – Haus real estate UAB. The funds will be used to finance construction of new production and administrative premises built by Trenduva UAB, subsidiary of VILNIAUS BALDAI AB in Trakai district, Guopstai.

Until VILNIAUS BALDAI AB will transfer its production to a new factory, sold premises will be rented from the buyer at EUR 2,50 per m2 per month (excluding VAT).

According to VILNIAUS BALDAI AB audit committee for the date of the decision it is not reasonable to assume that the real estate sale and lease transactions are concluded under non-market conditions or are unfair to VILNIAUS BALDAI AB and its shareholders who are not party to the deals point of view.

Additional information:
Head of Finance
Edgaras Kabečius
Tel.: +370 (5) 252 57 00