AUGA Group's Crucial Shareholders' Meeting Announcement
AUGA group, AB, an entity currently undergoing restructuring, is gearing up for an important General Meeting of Shareholders. This meeting is scheduled for August 12, 2025, at 10:00 a.m. During this session, shareholders will cast their votes to approve the Company's draft restructuring plan, a pivotal step towards revitalizing its financial health.
Key Details About the Meeting
The meeting will take place at the QUADRUM NORTH business center's conference facility, offering an appropriate venue for such an essential event. Registration for attending shareholders will begin promptly at 10:00 a.m. It's important to note that only those listed as shareholders by the close of the record date will have the right to participate and vote during this meeting.
Understanding the Agenda
The primary agenda item focuses on the approval of the Company's draft restructuring plan. This plan, attached to the notice, elucidates various economic and organizational strategies designed to navigate the financial difficulties faced by the Company. Aiming for resolution with creditors while enhancing financial results at the group level, the restructuring plan outlines key strategic actions, including:
- Developing the dairy segment through a Sustainable Dairy Farming Fund.
- Sale of Land-Holding Companies to optimize assets.
- Segregating 11.5 thousand hectares of crop farming operations into the dedicated Raseiniai Region Crop Growing Fund.
- Liquidation of shares in Baltic Champs, UAB.
By implementing these strategic initiatives, the Company anticipates fulfilling all financial obligations to external creditors by 2029. This fresh business model is set to preserve the Group's operational capacity while improving financial outcomes, ultimately protecting the interests of shareholders and creditors alike.
Draft Resolutions for Discussion
The proposed draft decisions on the agenda include:
1. Approval of the Company’s draft restructuring plan in alignment with the outlined proposal.
2. Authorizing the Company’s CEO and Board to manage and finalize necessary documentation related to the restructuring plan's court filing.
Shareholders may attend and vote at the General Meeting either personally, via proxy, or through an agreement transferring their voting rights. The total outstanding shares with voting rights are set at 233,803,368.
Voting Rights and Procedures
Anyone attending the meeting and claiming a vote must present a valid identification document, while non-shareholders must provide proof of their voting rights. Furthermore, shareholders can designate a proxy to attend and vote on their behalf, either through a physically signed document or via electronic communication channels, ensuring the process is compliant with legal standards.
Pre-Meeting Preparations
Shareholders have the right to propose additional items for the meeting agenda provided they hold a minimum of 1/20 of the total voting shares. Proposals must be sent to the Company adequately before the meeting. Additionally, shareholders can submit queries ahead of time; the Company commits to respond to inquiries received at least three business days prior to the meeting.
Accessing Important Documents
Shareholders should review all relevant documents concerning the meeting, including the meeting convocation notice, the total shares, draft resolutions, and related paperwork. This information can be found at AUGA group’s registered office or on its official website.
Contacts:
Elina Chodzkait? – Barauskien?
CEO of AUGA Group, AB under restructuring
+370 5 233 5340
Frequently Asked Questions
What is the main purpose of the shareholders' meeting?
The main purpose is to approve the draft restructuring plan which aims to improve the financial stability of AUGA Group.
Where will the meeting be held?
The meeting will take place at the QUADRUM NORTH business center.
How can shareholders participate in the vote?
Shareholders can vote in person, by proxy, or through an authorized person with a valid power of attorney.
What are the strategic actions outlined in the restructuring plan?
The plan includes measures such as the development of a dairy segment and the separation of crop farming operations.
Who should shareholders contact for more information?
Shareholders should contact Elina Chodzkait? – Barauskien?, the CEO, for any inquiries related to the meeting or restructuring plans.
