Dubeņi, Lapsu street 3, Grobiņa parish, Grobiņa district, 2015-04-02 07:58 CEST (GLOBE NEWSWIRE) -- JSC "Grobiņa" management informs that they fulfilled JSC “Citadele banka” accepted liabilities restructuring project, which aim is to restore the long-term loans repayment schedule, JSC "Grobiņa" until 31.03.2015. was forced to ensure that the following conditions are fulfilled:
1. fur animal feed production plant in Liepaja, Brīvības Street 119A commissioning. JSC "Grobiņa" provided fulfillment 09/02/2015.
2. repay JSC "Citadele banka" 800 000, -EUR, consisting of accrued interest and part of the principal amount of the loan. This requirement is fulfilled completely 31.03.2015.
3. reduce the payable amount of € 2,340,000. JSC "Grobiņa" provided fulfillment 31.03.2015., by submitting to JSC "Citadele banka" transaction documentation to decrease in accounts payable 2,343 925.40 EUR.
4 .To attract long-term financial resources of at least 500 000 EUR. This condition’s fulfillment is currently in the process because of the JSC "Grobiņa" is already up to sign 31.03.2015. Investment LOI for the long-term funding in amount 1 000 000, -EUR ,as a result there are currently active efforts at compliance with the conditions flfillment and provided coordination with JSC "Citadele Banka". Currently, JSC "Grobiņa" management is not aware of such circumstances, why the LOI could withhold long-term funding.
Considering the above JSC "Citadele banka" has confirmed that the execution of the remaining provisions contained in the restructuring project for an additional mezzanine loan to the bank's readiness to conclude an agreement on the repayment of long-term loans. If you have any questions about the above, please contact the JSC "Citadele banka" credit monitoring and restructuring Manager Ingūna Orlova phone +371 67010205, e-mail: Inguna.Orlova@citadele.lv. As the JSC "Grobiņa" management objective is to reach an agreement with JSC "Citadele banka" for the restoration of the long-term rescheduling the outstanding bank loans, which significantly affect the 2014 financial statements of the valuation principles and assumptions about the future of the JSC "Grobiņa" management of this announces that the company's shareholders' meeting for approval of the 2014 financial statements, will be held immediately following the restructuring plan’s fulfillment and not later than 28.05.2015.
The board of JSC „Grobiņa”