Notification on material event
Novaturas Group has agreed with the bank to delay liabilities
Today Novaturas Group has agreed with Luminor bank (AB Luminor) to delay payments of a long-term loan and extend the overdraft.
In the consolidated interim report of 6 months financial results (2020) the Company stated it has a long-term loan of EUR 6 million and EUR 5.6 million (at that time) overdraft limit agreements with Luminor Bank. The start of partial payments of the long-term loan is postponed for 5 months until the end of March. The overdraft limit which today amounts to EUR 3.6 million is also extended until the 31st of March, 2021. The Company intends to use it to secure its liquidity untill will be able to resume more sustainable operations.
About Novaturas Group
AB Novaturas Group is the largest tour operator in the Baltic States, offering summer and winter package holidays in more than 30 destinations worldwide and more than 100 sightseeing routes. In 2019, the group served more than 293 thousand customers.
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