On 27th March 2023, AUGA group, AB’s indirectly controlled company ŽŪK "AgroBokštai" (hereinafter - the Company) issued private bonds (hereinafter - the Bonds) with a total nominal value of EUR 6,000,000. The Company undertook to redeem the Bonds from investors and to pay any accrued but unpaid interest by 27th October 2024. Given that the redemption date coincided with a weekend, the date for the redemption of the Bonds came due on 28th October 2024.
The Company seeks to fulfill its obligations under the Bond agreements, but the process of refinancing the Bonds took longer than expected.
"We remain strongly committed to our investors: making every effort to redeem the overdue issue of private bonds, while having fulfilled the obligation to cover interest to investors in a duly and timely manner. We are now further actively engaged with the matter of the Bond refinancing.
We recognize the concerns of our investors and are fully committed to addressing this situation with urgency. Our team is actively collaborating with both our investors and the bond trustee to facilitate a transparent and seamless resolution process", says Kęstutis Juščius, the Chair of the Board of AUGA group, AB.
Contacts:
CFO of AUGA group, AB
Kristupas Baranauskas
+370 5 233 5340
