NOVATURAS AB: Novaturas Group has agreed with the bank to delay liabilities

2020-05-29 16:07
publikacja
2020-05-29 16:07
Spis treści:

1. REPORT

2. INFORMATION ABOUT THE ENTITY

3. SIGNATURE OF PERSONS REPRESENTING THE COMPANY

POLISH FINANCIAL SUPERVISION AUTHORITY
UNI - EN REPORT No 21 / 2020
Date of issue: 2020-05-29
Short name of the issuer
NOVATURAS AB
Subject
Novaturas Group has agreed with the bank to delay liabilities
Official market - legal basis
art. 17. 1 MAR.
Unofficial market - legal basis
Contents of the report:
Today Novaturas Group agreed with Luminor bank (AB Luminor) to delay payments of a long-term loan and extend the overdraft.

On 31st March, 2020, The Company announced in its latest financial statements that it has a long-term loan of EUR 6 million and EUR 8 million overdraft limit agreements with Luminor Bank. The start of partial payments of the long-term loan was postponed until November, the overdraft limit was extended until the end of October.
About Novaturas Group
Novaturas Group is the leading tour operator in the Baltics states. Since 21 March 2018, Novaturas shares have been dual-listed on the Warsaw Stock Exchange and on Nasdaq Vilnius.
Novaturas was established in 1999, became the market leader in the Baltics in 2004. Aside from the Baltics, Novaturas has begun offering its products in Belarus, where they are retailed through local partners.
Novaturas continues to attract new clients thanks to its attractive and diverse offering and the high quality of its services. The Group offers both summer and winter package holidays as well as sightseeing tours by coach or plane to more than 30 destinations worldwide, including the most popular holiday resorts in Southern Europe as well as select locations in North Africa, the Middle East, Asia and Latin America.
The Group's strategy also aims to retain diverse and complementary distribution channels. Novaturas works with over 400 travel agencies, including all of the major agencies in the Baltics. It also operates retail offices of its own in main cities of Lithuania, Latvia and Estonia, and is investing in further development of its e-commerce channel.
The Company’s asset-light business model, which is characterized by strong cash flows from operating activities and low capital expenditures, allows it to pay out a large part of its earnings to shareholders. Paying regular dividends is one of the key elements of the Company's strategy. Every year the Management Board expects to propose for distribution 70-80% of the Company’s net profit.
Finance director,
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
2020-05-29 Tomas Staskunas CFO
Źródło:GPW - komunikaty spółek (ESPI)
Tematy

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