On April 30, 2020 AS Baltika notified via stock exchange announcement in the summary of the reorganization plan and in the full version of the reorganization plan sent to the creditors, the additional financing opportunities. On 30 April 2020, Kredex sent a decision to AS Baltika to approve a loan of 4 million euros, and the company's majority shareholder KJK Fund SICAV-SIF has also confirmed its readiness to provide an additional loan of up to four million euros to Baltika. One of the preconditions for receiving loans was the approval of the reorganization plan of AS Baltika.

Kredex has later informed Baltika that the issuance of the loan will also be discussed by the supervisory board of the foundation. Baltika informs investors that it has sent a letter to Raul Siem, Minister of Foreign Trade and Information Technology, and Ando Leppiman, Chairman of the Supervisory Board of Kredex and Secretary General of the Ministry of Economic Affairs, requesting that Kredex's decision to grant a loan of four million euros would remain in force.

Flavio Perini
Member of Management Board, CEO

flavio.perini@baltikagroup.com