Agrowill Group shareholders decide not to increase authorised capital

 At a repeated Extraordinary General Meeting of Shareholders of Agrowill Group on 30 March, it was decided not to increase the authorised capital of Agrowill Group by issuing 27.7 million registered ordinary shares with a nominal value of LTL 1 each.

It was also decided not to issue 50 million convertible bonds of Agrowill Group.

“Our February plans to increase the authorised capital and issue bonds were considerably changed by the general situation in the market. Given the current overall market decline, the shareholders decided to postpone the increase of the authorised capital by issuing shares as well as the placement of bonds. Supposedly, this would not help to get a planned amount of money and therefore the shareholders decided to postpone the increase of the authorised capital until a more favourable time and look for other ways to attract capital,” Mindaugas Juozaitis, a member of the Board and General Manager of Agrowill Group, said. 
The shareholders decided at the meeting that an audit of the company’s financial year 2008 would be carried out by Pricewaterhouse Coopers.

<< All news