JSC "VEF Radiotehnika RRR" informs that on August 25, 2016 was completed sale of the production building with the land (cadastre number 0100 080 2328).
The above mentioned property was sold to SIA "KNOPS" for the EUR 1'300'000 in accordance with the legal protection process action plan.
The received funds fully covered claims of secured creditors and partially covered claims of unsecured creditors in accordance with the legal protection process action plan. The remaining amount will be spent to the manufacturing process to restore the acoustic systems and cabinets for professional acoustic production.