Utena, Lithuania, 2016-09-06 16:10 CEST (GLOBE NEWSWIRE) -- Algirdas Šabūnas acquired 950 300 units of AB Utenos Trikotažas shares (10 percent of the share capital) from SBA Concern and became the new Director General of the company.
"The implementation of the company's new strategy has opened wonderful opportunities for the profitable growth of the company. Thus, I have accepted the offer of the main shareholder to acquire a significant amount of shares of the company and focus on the development of Utenos Trikotažas group while carrying out the duties of the company's Director General. As the company's shareholder, director general and board member, I hope to realize the company's growth initiatives, raise the company's share value, ensure that the company is profitable and once again make AB Utenos Trikotažas a dividend-paying enterprise", - says A.Šabūnas, the company's new shareholder and Director General.
Over the past eight years, A.Šabūnas was the chairman of the management board of AB Utenos Trikotažas while also holding the position of the vice-president of SBA Concern. During that period, he and his team overcame the dangers of the global financial crisis that threated the company, as well as developed and helped implement a new strategy of AB Utenos Trikotažas and introduced the new innovative knitwear brand ABOUT to the market.
For more details on the material event, please contact Andrej Grobov, the Finance Director of AB “Utenos trikotazas”, on +370 389 63080.