JSC "Grobina" management informs that, with the Liepaja Court 29th of March 2018 decision, has approved amendments to JSC “Grobina”, Reg. No. 40003017297, legal protection process plan.

Additionally we are explaining, that on 3rd of August 2017 there was signed new Financing agreement with Canadian auction house NAFA about fur animal kit advance payments and pelt advance payments in season 2017/ 2018. Consequently, in 2017 there was changed the funding provider and the amount of funding, as well the procedure for payments changed. In addition, in November 2017, the management of JSC "Grobina" made a decision to agree with NAFA about cooperation during the next growing seasons, including receiving funding for fattening mink kits in next seasons, which will allow up to the year 2020 step by step increase breeding herd up to 55 000 females and production volumes up to 230 000 skins per year, thus reducing the cost of the skin. In these circumstances, it was necessary to make amendments in JSC "Grobina" Legal protection process action plan, prolonging legal protection process term for 2 years, respectively, modifying and making in new redaction the cash flow forecast for 2017, 2018, 2019 and till 30^th of June 2020, as well making changes in Attachments No. 2 , No.3, No.4 and  No. 5 defined secured and unsecured creditors, leasing and taxes  payment schedules, and making Legal protection process plan of auction chapters No. 1., 2., 4., 5, 6., 7., 8.,10., 14. and 17.  in new redaction. JSC “Grobina” management is informing, that now there is already realised in JSC “Grobina” Legal protection process action plan provided, because in 17^th of January 2018 there were made changes in 3d of August 2017 signed Financing agreement between JSC “Grobina” and Canadian auction house NAFA, providing cooperation and kit advance payments issuing in 2018/2019 and 2019/2020 breeding seasons, this will allow already in season 2018/2019 to increase breeding herd up to 45 000 breeding mothers.

It should be noted that all creditors whose repayment schedules were modified, i.e.  JSC "Citadele banka" and the taxes administrations- have agreed on these amendments of the JSC "Grobiņa" legal protection process action plan. Taking in account above mentioned, JSC “Grobina” continues its economic activity in accordance with the approved amendments of the JSC "Grobiņa" Legal Protection Process action plan.

In attachment there is JSC “Grobina” Legal protection process action plan with amendments in redaction on 23d of November 2017, without attachments, because they contain confidential information.

         JSC "Grobina"
         Chairman of the board
         Gundars Jaunsleinis