Dubeni, Grobiņa parish, Grobiņa district, 2015-12-14 14:36 CET (GLOBE NEWSWIRE) -- JSC "Grobina" board in accordance with the Financial Instruments Market Law, Article 59 (1) and (2) hereby inform, that the Finnish auction house Saga Furs this year has unexpectedly changed mink sales procedures, i.e. completely removed mink collection from December 2015 auction, as a result, sale for mink what was produced in this year, will be organized only in 3 auctions, i.e. March, June and September 2016. Admittedly, in last 20 years this is the first season, when in December mink will not be traded. Consequently, also as stated in JSC "Grobiņa" managements' report with the 3rd quarter review, the company management is now actively working with its creditors on the accumulated debt repayment transfer to 2016, providing repayment of the debt of March and June 2016 mink auction revenue. Also, at this moment with creditor JSC Hedensted Grouppen has been reached a conceptual agreement about the payment extension of debt wich was accumulated in 2014 , transfering its repayment from the 2016 auction revenue, as a result there will be concluded agreement during this week. Thus, submitted application of bankruptcy on 11.12.2015. JSC Hedensted Grouppen will be withdrawn and the proposed insolvency proceedings will be terminated.
The JSC “Grobiņa”
Board