Linas Agro Group - Notification on material event

Credit line of LTL 228 million granted to company AB Linas Agro by SEB bankas

Panevezys, Lithuania, 2014-08-05 08:00 CEST (GLOBE NEWSWIRE) -- 

The credit line allocated to finance the working capital need of agricultural
commodity trading and agricultural inputs supply company AB Linas Agro has been
increased by LTL 28 million by SEB bankas. In the next business year, the above
member of the holding AB Linas Agro Group will have an opportunity to use the
credit line of LTL 228 million (EUR 66 million). 

“The Baltic agricultural sector demonstrates stable performance and has a solid
foundation for its further growth. The above is proven by a successful
performance of one of leaders in this segment - AB Linas Agro Group in
Lithuania and Latvia, where recently company SIA Linas Agro was issued a credit
line of LTL 51.8 million (EUR 15 million) by SEB bankas for increasing the
company's current market share. Irrespective of the fact that activity of
agriculture-related companies to a large extent depends on such external factor
as weather conditions that are difficult to control, such larger credit line
will give us an opportunity to continuously implement the established targets
and ensure further development in Lithuania and other Baltic countries“, says
Aivaras Čičelis, Vice President and Head of Corporate Banking Division of SEB
bankas. 

According to Tomas Tumėnas, Finance Director of AB Linas Agro Group and AB
Linas Agro, based on the preliminary estimates for the financial year that
ended in June, product sales volume of AB Linas Agro made up 1.6 million tons,
or was higher by 6.6 per cent compared with the last year. “Financial year that
started in July shows a number of business opportunities, thus we have plans to
purposely increase our business volumes in the local and international markets.
We believe that the increase in the credit line by our long-term finance
partner, i.e., SEB bankas will enable us to maintain competitive advantage in
this sector“, says T. Tumėnas. 

AB Linas Agro Group, the owner of agricultural commodity trading and
agricultural inputs supply company AB Linas Agro, is a parent company, which
owns 35 companies engaged in the production and trade of grains, oilseeds,
feedstuff, poultry and poultry products, also agricultural inputs. The total
headcount of the Group operating in Lithuania, Latvia, Estonia and Denmark
exceeds 2,260 employees. 



About SEB

SEB is a leading Nordic financial services group. As a long-term customer
relationship bank, SEB in Sweden and the Baltic countries offers financial
advice and universal financial services. In Denmark, Finland, Norway and
Germany the bank's operations have a strong focus on corporate and investment
banking based on a full-service offering to corporate and institutional
clients. The SEB Group staff numbers about 17 thousand employees. For more
detailed information about SEB please visit www.sebgroup.com. 

About AB Linas Agro Group

AB Linas Agro Group is an agribusiness parent company engaged in the production
and trade of grains, oilseeds, feedstuff, poultry and poultry products, also
agricultural inputs. It controls companies in Lithuania, Latvia, Estonia and
Denmark. The group consists of international agricultural production trading
company in Lithuania AB Linas Agro, grain storage company UAB Linas Agro Grūdų
centras KŪB (controlling grain storages in Joniškis, Kėdainiai, Kupiškis,
Pasvalys, Šakiai district, Šiauliai and Vilkaviškis), Latvian trading company
SIA Linas Agro, international trading company Linas Agro A/S in Denmark, group
of companies ŽŪB Landvesta, managing agricultural land, holding of agricultural
companies UAB Linas Agro Konsultacijos, agricultural inputs supplier UAB
Dotnuvos Projektai, logistic company UAB Jungtinė Ekspedicija, poultry
companies AS Putnu Fabrika Kekava and SIA Lielzeltini, also other companies.
The financial year of the Group begins on 1 July. 


         For more information please contact:
         Arvydas Žilinskas Head of Media Relations with SEB Bank
         Tel.: (8 5) 268 1198, 8 687 04 052
         E-mail: arvydas.zilinskas@seb.lt
         Tomas Tumėnas Finance Director
         AB Linas Agro Group
         Tel.: (8 45) 507 393, 8 682 36616
         E-mail: t.tumenas@linasagro.lt