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NOVATURAS AB: AB “Novaturas” signed EUR 10 million investment agreement with the State Investment Management Agency

2021-04-02 14:49
publikacja
2021-04-02 14:49
Spis treści:

1. REPORT

2. INFORMATION ABOUT THE ENTITY

3. SIGNATURE OF PERSONS REPRESENTING THE COMPANY

POLISH FINANCIAL SUPERVISION AUTHORITY
UNI - EN REPORT No 22 / 2021
Date of issue: 2021-04-02
Short name of the issuer
NOVATURAS AB
Subject
AB “Novaturas” signed EUR 10 million investment agreement with the State Investment Management Agency
Official market - legal basis
art. 17. 1 MAR.
Unofficial market - legal basis
Contents of the report:
The leading tour operator in the Baltic States "Novaturas" on the 2nd of April 2021, has signed EUR 10 million investment agreement with the State Investment Management Agency.

The Company has announced about the reached agreement with the State Aid Fund for Business managed by the State Investment Management Agency through stock exchanges on the 17th of February 2021. The investment worth EUR 10 million will reach “Novaturas” group using mixed financial instruments.

• During the General Meeting of Shareholders of AB “Novaturas”, convened on the 12th of March 2021, the shareholders approved on issuance of convertible bonds worth EUR 5 million and revocation of the pre-emptive right of the shareholders to acquire newly issued convertible bonds and granting the right to subscribe and acquire all Convertible bonds exclusively to the limited partnership “Pagalbos verslui fondas”. The fixed annual interest rate on the convertible bonds is 9.5% for a period of 12 months, increasing by 0.5% annually for each of the other 12 months.

• During the Company’s board meeting, held on the 2nd of April 2021, the board approved the issuance of ordinary bonds worth EUR 5 million, which the fund will redeem. The fixed annual interest rate on the ordinary bonds is 8% for a period of 12 months, increasing by 0.5 % annually for each of the other 12 months.

The financing is granted for 6 years period, after which the Company undertakes to redeem the bonds. The Company also has the possibility to redeem all or part of issued bonds before the term of the agreement.

"Tourism sector has been heavily affected by the consequences of the pandemic, so every injection into the tourism sector is significant. We believe that when the situation stabilizes, people will travel, and the Company will not only return the investment but will continue to operate successfully. I hope that this agreement will become an impetus for other companies in the tourism sector to apply to VIVA more boldly and actively and at the same time look for effective financing solutions”, says Dainius Vilčinskas, CEO of the State Investment Management Agency.

„Throughout the past year we have put a lot of effort and time into searching and evaluating all the opportunities to ensure business continuity. The financial partners appreciated our efforts and provided support in entrusting “Novaturas” potential. Before signing the deal with the State Investment Management Agency, their specialists impartially assessed our business model, its sustainability, and the potential of the sector. It will, of course, take some time before we can return to pre-pandemic levels, so we are taking all measures to secure a larger financial reserve. Safe travelers’ holidays are also our responsibility. We take care of all our travelers, both by providing them all the necessary information when planning holidays, as well as taking care of fair compensation if the dynamics of a pandemic require adjustment of the holidays planned by travelers. The interests of people traveling with “Novaturas” are also protected by the 11 million euros worth guarantee and insurance limit we have secured last year, which means that all travelers' money for future travel is safe”, says Audronė Keinytė, head of “Novaturas” Group.

About “Novaturas” Group

AB “Novaturas” Group is the largest tour operator in the Baltic States, offering summer and winter package holidays in more than 30 destinations worldwide and more than 100 sightseeing routes. In 2019, the group served more than 293 thousand customers.
CFO
Tomas Staškūnas
tomas.staskunas@novaturas.lt
+370 687 10426
Annexes
File Description

NOVATURAS AB
(fullname of the issuer)
NOVATURAS AB Usługi inne (uin)
(short name of the issuer) (sector according to clasification
of the WSE in Warsow)
LT-44245 Kowno
(post code) (city)
A.Mickeviciaus 27
(street) (number)
+370 37 321 264 +370 37 321 130
(phone number) (fax)
(e-mail) (web site)
(NIP) (REGON)

SIGNATURE OF PERSONS REPRESENTING THE COMPANY
Date Name Position / Function Signature
2021-04-02 Tomas Staskunas CFO
Źródło:GPW - komunikaty spółek (ESPI)
Tematy

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