Announcement from the exchange
On the observation status of SIA “Baltic Dairy Board”
SIA “Baltic Dairy Board” (BDBB180024A, ISIN: LV0000801595) has submitted the annual report of 2019 where the auditor has expressed the adverse opinion and stated the following: “The term of the Company’s financing agreement with the credit institution has expired and the loan had to be repaid by 15 May 2018. The Company has not been able to agree on the terms of refinancing or to obtain substitutional funding. The situation is the subject of material uncertainty, which may rise to significant doubt about the Company’s ability to continue as a going concern.”
The observation status has been applied to SIA “Baltic Dairy Board” as of May 2, 2019 according to Nasdaq Riga Listing and Disclosure rules Article 20.1.2, Subarticle 2, which stipulates that the Issuer shall be placed on observation status if the Issuer has had permanent insolvency problems.
The purpose of assigning observation status is to alert the market participants.