Yesterday, on the 14th of March, the Securities Commission of Lithuania approved the share issue prospectus of agricultural investment and management company Agrowill Group AB. From 17th of March until 27th of March, the investors will be able to submit tenders to acquire around 25 per cent or 6 777 777 shares of the Company. The Lead Manager and bookrunner of the Offering is investment bank GILD (Estonia), Co-lead Manager and Underwriter - FMĮ Finasta AB. Agrowill Group AB seeks to become the first listed agricultural sector company in Lithuania and the Baltic States. "Currently Agrowill Group AB holds a firm position in the domestic market. In addition to that we see strong growth possibilities both in Lithuania and abroad, thus potential investors can expect good returns on their investment into the companies shares" - said Agrowill Group AB general director Valentas Šulskis. The determined price range of Agrowill Group AB share issue is from LTL 4.50 to 5.50 (from EUR 1.30 to 1.59) per share. The shares are offered to the investors with a condition that all the shares from the main offering, i.e. 6 100 000 shares, will be issued. Investment bank GILD partner Šarūnas Skyrius: "We think, that addition of fast-growing agricultural investment and management Company to the Stock Exchange is a great possibility to the investors to benefit from the increasing prices of agricultural commodities. The demand for agricultural goods in Lithuania and whole world is constantly increasing. The centralized management of agricultural entities allows the Group to increase efficiency and value of the Group. In addition to that, the Company has a clear vision of expansion not only in Lithuania, but also in the black earth region in Russia, ukraine and Moldova." Agrowill Group AB plans to submit an application to Vilniaus vertybinių popierių birža AB for the conditional listing of its shares on the Main List of Vilnius Stock Exchange. After significantly expanding the crop fields and increasing the dairy production capacity the Company plans that in 2008 the consolidated revenues from main activities will grow by 36 per cent and reach LTL 58 million (EUR 16.80 million), while EBITDA will grow by 46 per cent to LTL 23 million (EUR 6.66 million). Forecasted net result for the year ammounts to LTL 11.5 million (EUR 3.33 million) - a 20 per cent increase as compared to 2007. The unaudited revenues of agricultural investment and management Company and its subsidiaries Group in 2007 (without taking into account the revaluation of Investment property according to TFAS) ammounted to LTL LTL 43 million (EUR 12.45 million) and were 57 per cent higher than in 2006. The Net profit from agricultural operations in 2007 grew more than 3 times and ammounted to LTL 9.8 million (EUR 2.84 million). More information about the Offering is available in the Companies website: www.agrowill.lt. Domantas Savičius CFO (8-5) 233 53 40
Securities Commission of Lithuania approved the shares prospectus of Agrowill Group AB
| Source: AUGA group