Organic food producer AUGA group extended the public offering period till 17 August.
Decision to extend the period is related to announcement of the execution of a Framework Agreement with the European Bank for Reconstruction and Development (EBRD). It is expected that the interest of such an important investor will encourage more potential investors to subscribe for company’s shares.
All other terms and conditions in connection with the offering have not changed and remain the same as indicated by the company in its Prospectus announced on 3 July 2018 and in the first supplement of the Prospectus, dated 17 July 2018.
„We have communicated with many investors throughout Europe and beyond during the pre-marketing and deal roadshow period. It is clear that many investors in Europe are presently away on vacations and therefore it has not been possible to share this event in a timely manner. In our view the extension is the only reasonable step to take so as to provide all investors an equal chance to digest the announcement“ – states Kęstutis Juščius, Chairman of the Board of the company.
AUGA group, its major shareholder Baltic Champs Group, Mr. Kęstutis Juščius and European Bank for Reconstruction and Development (EBRD) entered into a framework agreement pursuant to which, if EBRD subscribes for the newly issued shares of AUGA group, the company has undertaken to comply with certain environmental and social compliance and corporate governance recommendations and requirements of the EBRD. Company also undertook to vote in favour of the EBRD’s nominee, if any, to the Supervisory Council of the company.
EBRD carefully and responsibly selects the companies it intends to invest in. A lot of attention is paid to companies and projects which are focused on energy saving, sustainable land use, conservation of natural resources, reduction of pollution , etc.
The EBRD’s investments is a signal for other investors that such companies have high sustainability standards and focus on sustainable business development. The bank takes into account not only environmental policies but also social responsibility, good corporate governance practices.
AUGA group’s vision and development plans are in line with the bank’s investment priorities. As the company has announced, the newly-raised capital will be used for further development of sustainable organic farming: investments in acquired agricultural companies, the development of poultry and dairy farms, as well as the production of biogas and its application for agricultural machinery.
The bank has already invested in 83 projects in Lithuania, and the total value of these investments is 748 million. Eur.
The offering consists of up to 40 million newly-issued ordinary registered shares to trading on Nasdaq Vilnius and on Warsaw Stock Exchange. The largest shareholder of AUGA group, Baltic Champs Group, also intends to sell 40 million of its ordinary registered shares.
The transaction consists of a public offering to retail investors in Lithuania, an institutional offering to appropriately qualified investors, as well as a private offering to individually identified non-institutional and non-qualified investors outside of Lithuania.
Shares are offered in the price range between EUR 0.45 and EUR 0.50 per share. The final share price will be set after book-building. The final offer price will be the same to all investors.
Subscription Undertakings may be submitted through any financial institutions (each a “Participating Institution”) that are members of Nasdaq Vilnius. As of the date of the Prospectus, the list of these financial institutions is as follows (in alphabetical order):
• Citadele banka/ Citadele bankas
• Cresco Väärtpaberid
• Danske Bank
• Instinet Europe Limited
• Interactive Brokers (U.K) Limited
• Joh. Berenberg, Gossler & Co. KG
• LHV Pank
• Luminor Bank AB/ Luminor Bank AS
• Nordea Bank AB (publ)
• Orion Securities
• SEB banka/ SEB Bankas/ SEB Pank
• Šiaulių Bankas
• Skandinaviska Enskilda Banken
• Swedbank AB (Sweden)/ Swedbank AS (Estonia)/ Swedbank AS (Latvia)/ Swedbank, AB
(Lithuania)
A complete and up to date table can be found at the following address:
http://www.nasdaqbaltic.com/market/?pg=members&lang=en.