On 5 July 2018, the transaction on mortgage of assets was concluded, by which the debtor Baltic Holding, UAB mortgaged 5,713,018 pcs ordinary registered shares of Žemaitijos pienas, AB in favour of SEB bankas, AB for the purpose of securing loan obligations; also, collateral providers – Algirdas Pažemeckas and Danutė Pažemeckienė mortgaged (for the same purpose) 14,014,581 pcs ordinary registered shares of Žemaitijos pienas, AB held as the joint property of the spouses, and Algirdas Pažemeckas and Danutė Pažemeckienė mortgaged (for the same purpose) 100 pcs ordinary registered shares of Baltic Holding, UAB. The mortgage transaction has not set any special conditions, with the exception of restrictions on subsequent mortgages, transfer of ownership and management rights or restricting the rights to securities in other ways without the prior written consent of SEB bankas, AB. The collateral providers have the right to use all the property and non-property rights offered by the mortgaged shares.


Gintaras Keliauskas
Lawyer + 370 444 22208