Pursuant to the requirements of Section 59.1, Paragraphs 7 and 10 of the Financial Instruments Law, the Board of JSC Latvijas balzams (hereinafter also “the Company”) informs that it has concluded a transaction with a related party SPI RE Holdings S.a r.l. (Luxembourg) for the sale of real estate owned by JSC Latvijas balzams.
The mentioned properties are located in Riga, Daugavgrivas Street 7, Ranka dambis 28 and Daugavgrivas Street 7B, near SPI RE Holdings S.a r.l. owned real estate; there are no Company’s production facilities or warehouses located there. SPI RE Holdings S.a r.l. the acquisition of property from the Company explains with the possibilities to perform integrated real estate management, administration and development.
The consent of the Supervisory Board of JSC Latvijas balzams for the transaction was obtained. The amount of the transaction is based on the conclusion of independent evaluation and is measured at the amount of EUR 2 136 thousand and is expected to be paid after the registration of property rights in the Land Register. The transaction is expected to have a positive impact on the Company’s financial results, with the Company earning additional income.
JSC Latvijas balzams
Chairman of the Board