Key Developments: GROBINA AS (GRZ1R.RI)

GRZ1R.RI on Riga Stock Exchange

5.00LVL
28 Oct 2014
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Latest Key Developments (Source: Significant Developments)

Grobina AS announces updates regarding legal proceedings
Thursday, 12 Jun 2014 04:18am EDT 

Grobina AS:Announces that the company's management has received LR Higher Courts Court of civil jurisdiction decision made on May 7, which leaves unchanged Nov. 28,2013.Says that the Court of Kurzeme decision with whom was decided to recover a refund 1008.05 lats for the juridical services but was decided to decline the complain of Daina Kalniņa.Says by this, the legal proceeding in the civil case, instituted by the council of the company against the board members of the company, Peteris Laugalis and INVEX FONDI Ltd about the recovery of losses and the business transactions declared as void, has ended.  Full Article

Grobina AS appoints external auditors for FY 2014
Monday, 21 Apr 2014 08:00pm EDT 

Grobina AS:Announces the appointment of Ltd. “Audit Advice” (auditor in charge Marija Jansone, certificate No. 25) as the company's external auditors for the fiscal year 2014.  Full Article

Grobina AS Updates on Legal Proceedings
Tuesday, 24 Sep 2013 03:09am EDT 

Grobina AS announced that according to decision, dated September 12, 2013 made by LR Higher Courts Court of civil jurisdiction is to leave unchanged and in legal force June 4, 2013 Court of Kurzeme decision in the part about the legal proceeding termination in the civil case, instituted by the council of Grobina AS after the request of the minority shareholders Janis Meijubers, Anatolijs Gorbunovs and Agris Naglins demand against the Board members of Grobina AS, Peteris Laugalis and Ltd. INVEX FONDI about the recovery of losses and the business transactions declared as void. In the part where it was decided to refuse to refund the juridical services of certified advocate Larisa Sokolova, representative of Daina Kalnina, it is decided to reverse the decision and to give it to new review.  Full Article

Grobina AS Updates on Legal Proceedings
Wednesday, 3 Jul 2013 08:00pm EDT 

Grobina AS announced that with the decision of the regional Court of Kurzeme on July 4, 2013, by reviewing the demand stated by the council of JSC Grobina after the request of the minority shareholders Janis Meijubers,Anatolijs Gorbunovs and Agris Naglins demand against the Board members of JSC Grobina, Peteris Laugalis and Ltd. INVEX FONDI about the recovery of losses and the business transactions declared as void–it is again decided to terminate the proceeding. In addition, the Court of Liepaja the again re-appointed JSC Grobina demands proceeding against the JSC Grobina council members about the recovery of the losses did not occur after the request from the respondent and was postponed to November 5, 2013. Finally, based on the LR Higher Court Senate action sessions decision on June 25, 2013 it is decided to refuse to initiate a cassation proceeding after the appeal in cassation of Janis Meijubers dated with March 14, 2012 about the judgement of the regional Court of Kurzeme with whom was decided to decline the proceeding demanded by JSC Grobina shareholder and council member Janis Meijubers against JSC Grobina about the decision annulment of the shareholders meeting convened on April 23, 2010 on the part where censure to the chairman of the board is declared and about the demands prosecution against the board and the council of the Company. According to this the decision of the regional Court of Kurzeme made on February 14 has come in to legal force.  Full Article

Grobina AS Announces FY 2012 Dividend Further Details
Friday, 5 Apr 2013 02:00am EDT 

Grobina AS announced that it will close the list of shareholders for dividend payments on April 10, 2013. Proceeding from the above, April 5, 2013 is the last day when the shares of Grobina AS are traded cum-dividend. On April 8, 2013, the shares will go ex-dividend.  Full Article

Grobina AS Announces Further Details Regarding Construction of Farm
Wednesday, 3 Apr 2013 09:55am EDT 

Grobina AS announced that after the announcement to apply price offers for the project of construction of fur animal breeding closures published on the home page of Iepirkuma uzraudzibas birojs, there were two applications received, from whom according to the procedure of procurement the winner is PRO - FUR FARM EQUIPMENT Bozena Mielenczuk. The value of the offered contract is LVL 3,323,858.83 (EUR 4,729,425.03), which is planned to be repaid in parts, by making the last payment in 10 days, after the building has been put in to operation, what is planned no later than on December 15, 2013. The contractor undertakes to construct the object fur animal breeding closures in compliance with the construction project approved by the construction authority and in compliance with the list of amounts of work and costs. In accordance to the signed contract, the construction works have started and are planned to be completed no later than December 15, 2013.  Full Article

Grobina AS Issues FY 2013 Total Income Guidance; Confirms FY 2013 Profit Guidance
Friday, 22 Mar 2013 04:45am EDT 

Grobina AS announced that it expects for fiscal year 2013 total income of LVL 10,994,190. The Company has also confirmed the adjusted profit for fiscal year 2013 forecasted by the Board of Grobina AS at LVL 433,036.  Full Article

Grobina AS Announces FY 2012 Dividend Proposal
Thursday, 7 Mar 2013 10:24am EST 

Grobina AS announced that it will propose, at its Annual Shareholders' Meeting on March 22, 2013, to distribute a part of the Company’s profit for fiscal year 2012 in the amount of LVL 300,000 as dividends for fiscal year 2012. The value of the dividend is LVL 0.60 per share. The dividend calculation date is April 10, 2013, and the dividend pay date is April 16, 2013.  Full Article

Grobina AS Announces Further Details Regarding Loan Approval for Construction of New Farm; Announces Acquisition of Property
Tuesday, 26 Feb 2013 09:36am EST 

Grobina AS (GAS) announced that it was searching for loan offers with more favorable crediting conditions. Consequently, the best offer for financing of the construction was received from Citadele Bank (CB). One loan agreement has been concluded on February 20, 2013 for the implementation of the project of the construction of a new fur animal farm in the amount of EUR 3,984,041 for the period until February 19, 2020, with a fixed annual interest rate of 5.5% until the new farm is put into operation and an annual interest rate of 4.5% afterwards. GAS is planning to repay LVL 1,680,000 or EUR 2,390,424 of the CB loan until March 30, 2014 using the granted co-funding received from the Rural Support Service, but the rest of the loan amount is planned to be repaid on a monthly basis according to the repayment schedule. Additionally, GAS is working on the development and implementation of a new project, the establishment of a new facility for food preparation. Therefore, for the implementation of the project GAS has purchased a real estate property, buildings and land in Liepaja for a total price of LVL 150,000. GAS has also submitted to the Rural Support Service the project application of the establishment of a centralized facility for food preparation for fur animals. The implementation of this project is planned to be implemented in several stages over several year time and the amount of investments would accordingly be starting from LVL 1.5 million to LVL 5 million.  Full Article

Grobina AS Announces Court Proceedings Details
Tuesday, 26 Feb 2013 09:36am EST 

Grobina AS announced, regarding the Company’s legal proceedings, and according to the Law on the Financial Instruments Market Article 59, parts one and two, points three and four, that a decision, dated February 12, 2013, made by the Supreme court of the Republic of Latvia, overrules the decision made by Kurzeme Regional Court, dated December 4, 2012, which terminated the legal proceedings against the former Grobina AS Board Members, Mr. Peteris Laugalis and INVEX FONDI Ltd. regarding their activities that have caused losses and cancellation of the concluded business deals. The case has been resubmitted for proceedings to the Kurzeme Regional Court.  Full Article

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