According to the Law on Financial and Capital Market Commission Article 59 parts (1) and (2), in addition to information already provided regarding the project ‘’Construction of a new fur animal farm’’, the board of JSC “Grobina” informs that in case of a successful implementation of the project, it is planned not only to increase the turnover and profitability of JSC Grobiņa, but in 3 years’ time to also reach profit margin 20-25% of the turnover.

JSC ‘’Grobiņa’’ has begun working on development and implementation of a new project – establishment of a brand new feedstuff kitchen, which in future could provide feedstuff not only for JSC ‘’Grobiņa’’, but also for other farms of Latvia and Lithuania. The implementation of this project is planned to be in parts over several year time and amount of investments would accordingly be starting from 1,5 million LVL to 5 million LVL.

The management of JSC ‘’Grobiņa’’ considers that the establishment of the above described feedstuff kitchen is one of the vital conditions for development of the industry of mink breeding in Latvia.

Taking into account the above mentioned, the Board of JSC ‘’Grobiņa’’ in the following years is planning to propose to the shareholders meeting the subject regarding paying the profit parts in dividends.

         Argita Jaunsleine
         Deputy Chairman of the Supervisory Board
         +371 29102585