Decisions of AS Baltika Supervisory Board


At the 8th of September 2015 meeting the Supervisory Board of AS Baltika decided to extend the contracts of the Chairman of the Management Board Meelis Milder and member of the Management Board Kati Kusmin for another 3-year term. The Management Board will continue with three members: Meelis Milder, Kati Kusmin and Maigi Pärnik-Pernik. Maire Milder will continue among Group executives on current position as director of Branding and Retail Development.

Supervisory Board also approved the plan to reorganise group structure. AS Baltika subsidiary Baltika Retail OÜ structure will be changed for more effective financial management: Baltika Retail OÜ subsidiary OÜ Baltman, that has good financial results and strong financial position, will buy from Baltika Retail OÜ its subsidiaries SIA Baltika Latvija and UAB Baltika Lietuva. As a result of the restructure OÜ Baltman will be in control of Baltic retail operations and the name of the company is planned to to be changed to Baltika Baltic Retail OÜ. Transaction should take place during 2015. As the business activity will continue in the same volume, transaction does not have an effect on AS Baltika consolidated profit, assets or liabilities. AS Baltika confirms that the above-mentioned transaction does not constitute a transaction with a related party and the members of the Supervisory and Management Board of AS Baltika do not have any other personal interest in the transaction.

Meelis Milder
Chairman of the Management Board

meelis.milder@baltikagroup.com