Additional information regarding non-compliance with green bond financial covenants
2024年5月21日 - 11:30PM
RNSを含む英国規制内ニュース (英語)
Additional information regarding non-compliance with green bond
financial covenants
Under the base prospectus for
bonds approved by the Bank of Lithuania on 25 November 2019
(hereinafter – the Prospectus), AUGA group, AB (hereinafter – the
Company) has issued bonds with a total nominal value of EUR
20,000,000. Among other provisions, the Prospectus stipulates
financial covenants including: i) an interest coverage ratio of no
less than 2, and ii) a consolidated equity to assets ratio of no
less than 30% (hereinafter – the Financial covenants).
These Financial covenants are calculated each
year on the basis of the audited annual financial statements. If
the Company does not meet the Financial covenants, the Prospectus
envisages a remediation period of 6 (six) months, during which time
such non-compliance with the Financial covenants is not considered
an event of default for breach of obligations.
On 30 April 2024 the Company published its
audited financial statements for the year 2023. In them, it
disclosed that the Financial covenants were not met and so,
together with the bond holders’ trustee AUDIFINA, UAB (hereinafter
– the Trustee), noted that fact and designated a six-month period
ending on 30 October 2024, as envisaged in the Prospectus, during
which the Company has the opportunity to remedy the incompliance
with the Financial covenants.
In the assessment of the Group's management,
based on the information available as of the date of publication of
this announcement, the trends in the Group's 2024 financial results
are in line with the previously published EBITDA forecast. As
disclosed in the financial reports of the Company and the Group,
considering the approved budget and business plans for 2024, it is
expected that the indicators in question will be met again during
the remediation period, barring any significant changes in the
business environment which the Group cannot anticipate and/or
control (for example, weather conditions affecting the Group’s
companies' 2024 harvest).
Contacts:
CFO of AUGA group, AB
Kristupas Baranauskas
+370 5 233 5340
Auga Group Ab (LSE:0IR4)
過去 株価チャート
から 5 2024 まで 6 2024
Auga Group Ab (LSE:0IR4)
過去 株価チャート
から 6 2023 まで 6 2024