Novaturas Board Decision on Shareholders' Meeting
The Board of public limited liability company "Novaturas," registered in Lithuania, has reached a pivotal decision regarding its previously scheduled extraordinary general meeting of shareholders. Understanding the company's current strategic direction and recent developments, the Board concluded it was necessary to revoke the meeting originally scheduled.
Reasons Behind Revocation
The first reason for the revocation is that the extraordinary meeting was initially scheduled for a date when negotiations with prospective investors were in progress. The outcome of those negotiations was uncertain, particularly concerning which investors would be offered new securities. Additionally, details about whether it would entail issuing new shares or convertible bonds remained undisclosed at that time.
Strategic Investor Engagement
As the company navigated these complex discussions, there was a strong intention to finalize arrangements swiftly and efficiently. The successful conclusion of negotiations with a strategic investor was crucial, highlighting Novaturas’ commitment to attracting the right partners to support its growth.
On 7 March 2025, a significant milestone was achieved when a binding agreement was signed with a new strategic investor. This deal, aimed at reinforcing the shareholder base, indicated that shares would be acquired not through new issuance but directly from existing shareholders, namely Ugnius Radvila, Rytis Šumakaris, Vidas Pali?nas, and UAB Willgrow. This strategic maneuver enables a smoother transition while attracting fresh investment into the company.
Impact of the Decision
With the conclusion that the originally proposed meeting became irrelevant, the Board unanimously decided to revoke the extraordinary general meeting. This change signals the company's adaptability and willingness to prioritize strategic interests over formal proceedings that no longer serve their purpose.
Contact Information
For further inquiries, individuals can reach out to the Chief Financial Officer, Darius Undzenas, at the following contact numbers: +370 678 05749 or +370 614 44228 (Head of Legal). Furthermore, any questions or concerns may be directed to the email shareholder@novaturas.lt.
Frequently Asked Questions
What prompted the revocation of the meeting?
The meeting was revoked due to negotiations with strategic investors reshaping the company's direction.
Who are the shareholders mentioned in the announcement?
The shareholders are Ugnius Radvila, Rytis Šumakaris, Vidas Pali?nas, and UAB Willgrow.
What is the purpose of the new strategic investor?
The new investor aims to strengthen Novaturas' shareholder base and support its growth strategy.
How can I contact Novaturas for more information?
You can contact the CFO or the Head of Legal via the provided phone numbers or email.
Is the extraordinary meeting rescheduled?
No, the extraordinary meeting has been revoked entirely in light of the new developments.
