Baltic Champs Group owned by K.Juščius acquired

On December 22 and 23, UAB Baltic Champs Group acquired 36.57 percent of the shares of AUGA group, according to the options agreements signed on September 2, 2016 and increased its share in company up to 88.13 percent.  

„I would like to thank the former shareholders for their trust, cooperation and input in creating AUGA group. Working together we turned to organic farming and started to produce final consumer products with AUGA brand. Consolidation of company shares will ensure further development of sustainable and environmentally friendly farming model and to attract new capital to grow our business. We will continue to create value and return on investment for all the current shareholders. There are more that 1000 of them.“ – said Kęstutis Juščius, chairman of the board of AUGA group and the main shareholder of Baltic Champs Group.

AUGA group shares owned by Vretola Holdings Limited, UAB Eastern Agro Holdings and Harberin Enterprises Limited shares we acquired at 0.631 EUR per share, and the shares owned by Volemer Holdings Limited and Domantas Savičius, Marius Žutautas and Vladas Bagavičius at 0.588 EUR per share, according to options agreement. Total price of acquired shares is 41 933 335 EUR. Baltic Champs Group paid for the shares using the funds from financial institutions and its own assets.

For reference, on September 2, 2016 the above mentioned AUGA group shareholders signed the options agreement to sell their shares. Thus Baltic Champs Group was obliged to purchase the sellers‘ shares at the options price by November 15, 2017. Baltic Champs Groups settled with the shareholders according to the agreement just before Christmas on December 23, 2016.

         For more information                    Vladas Bagavičius,          Member of the Board          Tel. +370 610 318 07