Decisions of AS Baltika Supervisory Board
At the 23th of January 2020 meeting the Supervisory Board of AS Baltika approved the plan to reorganise group structure. Part of the company`s restructuring plan is to change group management more efficient. In order to achieve that group structure will be changed more flat and lean. Supervisory Board decided to liquidate AS Baltika's subsidiary Baltika Sweden AB (dormant). In addition, it was decided that AS Baltika acquires 100% shareholding in OÜ Baltman, a subsidiary of OÜ Baltika Retail (holding company) for 0.15 million euros. OÜ Baltman manages the Baltics retail companies SIA Baltika Latvija and UAB Baltika Lietuva. Transactions are expected to be finalized in the first half of 2020. As the business activity will continue in the same volume, transaction does not have an effect on AS Baltika consolidated profit, assets or liabilities. AS Baltika confirms that the above-mentioned transaction does not constitute a transaction with a related party and the members of the Supervisory and Management Board of AS Baltika do not have any other personal interest in the transaction.
Member of the Management Board