Agrowill Group to be joined by one more company

Agrowill Group, one of the largest companies engaged in primary agricultural production, is not only reorganising its activities and technological processes but is also enlarging the group of companies controlled by it.
Since 2006, AVG Investment, part of Agrowill Group, has indirectly controlled 68% of voting shares in Panevėžys district-based agricultural company Gustoniai, although these financial assets have not been reflected in the company’s balance sheet to date.
The management of agricultural companies, as distinct from ordinary public limited companies, has certain specific features.  In order to be a duly authorised manager, an entity that has acquired their shares must be approved by the company’s management. In the case of agricultural company Gustoniai, management had been abusing this right for more than four years. Therefore, one had been forced to apply to court and defend one’s rights in accordance with the procedure set out in laws. Courts are currently hearing several civil cases challenging illegal decisions taken by the previous management of agricultural company Gustoniai, which have prevented Agrowill Group from exercising the rights carried by its shares.
After several years of litigation, the court has appointed a Gustoniai asset manager and removed Mindaugas Kazlauskas from the post of director.
Agrowill Group hopes that all investors will eventually have equal rights to manage agricultural company Gustoniai. In order to achieve this, Agrowill Group is taking measures to protect this investment and to ensure that decisions taken by the previous management of Gustoniai are revised.
Panevėžys district-based agricultural company Gustoniai has some 1,200 ha of farmland, 150 dairy cows and employs 54 people.

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