UK Markets open in 3 hrs 4 mins

Announcement of the notification of the Board of AUGA group, AB about the intention to delist the shares of the company from trading on the regulated market of the Warsaw Stock Exchange

·2-min read

The Board of AUGA group, AB (the “Company”) in its meeting, held on 22 September 2021, based on the request (hereinafter, the “Request”) of the shareholder of the Company Baltic Champs Group, UAB (hereinafter, the “Shareholder”), requesting convocation of the general meeting of shareholders of the Company, has inter alia decided to approve the notification about the intention to delist the shares of the Company from trading on the regulated market of the Warsaw Stock Exchange (hereinafter, the “WSE”) (attached).

In the Request, the Shareholder suggest the General Meeting to consider the issue on delisting the shares of the Company from trading on the WSE for the following reasons, which are also fully supported by the Board of the Company:

  1. currently the shares of the Company are introduced to trading on two regulated markets, AB Nasdaq Vilnius (hereinafter, Nasdaq) and WSE, however, actually active trading in principle is being executed only on Nasdaq;

  2. existence of the shares of the Company not only on the regulated market Nasdaq, but also on the WSE, brings no real benefit for the Company, but requires additional human resources from it, also leads to additional costs in connection with the performance of the regulatory requirements for listed companies not only of Lithuania, but also of foreign country (Poland);

  3. differently from the Baltic states markets, the Company has no intentions and needs of attracting additional capital by implementing public offerings of its shares or other securities in Poland and/or of seeking for alternative sources of funding for its activities in this market;

  4. following delisting of shares of the Company from trading on the regulated market WSE (if executed), they would further be traded on Nasdaq regulated market as a result of which protection of rights and interests of shareholders of the Company will be ensured;

  5. having delisted the shares of the Company from trading on the regulated market WSE, the Company will be able to concentrate all its efforts exclusively on relations with investors on its main regulated market Nasdaq and in performing its direct activities.

The Company has taken and will take all measures provided for in legal acts in order that owners of the shares issued by it would have access to all necessary means and information, giving them a possibility of exercising their rights during delisting of the shares of the Company from trading on the regulated market of the WSE.

Attached:
Notification about the intention to delist the shares of the Company from trading on the regulated market of the Warsaw Stock Exchange.

CEO
Kęstutis Juščius
+370 5 233 5340

Attachment


Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting