Activity of Baltic RE Group, AS is not affected by the restrictions imposed on ABLV Bank, AS by Financial and Capital Market Commission, and they do not affect, limit or anyhow restrict full execution of obligations undertaken with bonds issued by Baltic RE Group, AS and listed in Baltic Bond List of Nasdaq Riga.
Baltic RE Group, AS and its subsidiaries have presently in total 8 current accounts with ABLV Bank, AS and the total deposited sums was not exceeding EUR 100,000 at the moment of imposed restrictions, so being fully protected in accordance with the deposit guarantee fund in place in Latvia.
To secure smooth daily operation and to ensure the complete absence of any consequence in the ordinary management Baltic RE Group, AS and group’s subsidiaries are currently using their current accounts in other commercial banks in Latvia. About this, on February 19, 2018, Baltic RE Group, AS got official authorization from ABLV Bank to unreservedly use such accounts until the situation with ABLV Bank, AS is stabilized.
All tenants of the properties owned by Baltic RE Group, AS and group’s subsidiaries are not related to ABLV Group.
About Baltic RE Group, AS
Baltic RE Group, AS business lines are purchase and sale of real estate, its lease and management. The holding is the largest lessor of all-purpose high quality commercial areas with state-of-the-art facilities in Old Riga. Baltic RE Group, AS is investing in the Baltics with a long-term view, highly specific vision and a non-speculative approach for the creation of sustainable value.
For more information, please visit - http://www.balticregroup.com
Dina Abaja
Member of the Board, authorized person
Phone: +371 27832796
E-mail:dina.abaja@balticregroup.com