Linas Agro Group AB - Notification on material event

AB Linas Agro Group sold UAB Lignineko

Panevezys, Lithuania, 2014-05-02 08:00 CEST (GLOBE NEWSWIRE) -- 

AB Linas Agro run by AB Linas Agro Group sold 100 percent cent shares of UAB
Lignineko to UAB ECT Trading for 4,550,074 litas. 

Before that, in January, UAB Fossio was separated from UAB Lignineko together
with half of lignin raw material accumulation in Zabieliskis village in
Kedainiai region, having about 400 thousand cubic metres of lignin. UAB
Lignineko owns the other half of the lignin stock. 

“Having acquired UAB Lignineko in spring 2010 for nearly 2 million litas we
planned marketing of lignin as a raw material for biofuel. However, while
performing tests of lignin usage we realized that its use is not limited to
energy. Lignin is an excellent raw material for production of plant substrates,
also has other application areas. During several years we have been exploring
the possible usage areas of lignin and the potential profitability of each
business. We found that all these businesses are too small for our Group as
generate less than 1 percent of the total income, also is not related to our
other activities. Therefore, we decided to sell a half of lignin accumulation
to UAB ECT Trading to ensure the investment pay off", says Finance Director of
AB Linas Agro Group Tomas Tumėnas. 

The other half of lignin accumulation along with UAB Fossio remains the
property of the Group. 



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. The total headcount of the
Group exceeds 2,100 employees. Consolidated revenue of AB Linas Agro Group of
the first half of financial year 2013/2014 ended December 2013 totalled LTL
1,002 million, EBITDA - LTL 50 million. 

From 17 February 2010 AB Linas Agro Group is included in the main list of
companies of NASDAQ OMX Vilnius stock exchange. 


         More information:
         Finance Director of AB Linas Agro Group
         Tomas Tumėnas
         Mob. + 370 682 36 616
         Email t.tumenas@linasagro.lt