Linas Agro Group AB - Notification on material event

AB Linas Agro Group is planning to acquire 54.95% shares of UAB Jungtine Ekspedicija

Panevezys, Lithuania, 2012-12-28 08:00 CET (GLOBE NEWSWIRE) -- 

AB Linas Agro Group signed agreements with natural persons, the shareholders of
UAB Jungtine Ekspedicija on acquisition of 54.95% of the company's shares.  The
latter agreements will come into force once they are approved by the
Competition Council.  AB Linas Agro Group plans to spend litas 1,045,000 on
stock acquisition. 

UAB Jungtine Ekspedicija, established in Klaipeda in 1998, provides freight
transportation, reloading, warehousing, insurance, bulk cargo packing into bags
in Klaipeda seaport, provides custom agent's services, selects optimum routes
for freight transportation, provides ship agency and chartering services. The
major freight of the company consists of agricultural produce (rapeseed, grain,
oilseed cakes and meal), fertilisers, vegetable oils, biodiesel, various
chemical products, metal raw material and products, vitamin concentrates and
fodder additives, a wide range of fossils and minerals, various other standard
size and oversized cargoes.  The company‘s turnover in 2011 was over LTL 5.7
million, EBITDA was LTL 431,528, the company has 10 employees.  The company
collaborates with seven stevedoring and three cargo control companies in
Klaipeda seaport. 

At present, AB Linas Agro Group controls 45.05% of the stock of UAB Jungtine
Ekspedicija and is hoping to acquire the remaining 54.95% and to take over the
company's management control. 

“UAB Jungtine Ekspedicija is an important link of the international trade chain
of AB Linas Agro Group. Our group represents the buyer of this company's
services. UAB Jungtine Ekspedicija provides freight forwarding, ship agency and
chartering services in Klaipeda seaport, by handling cargoes of our group.
Since our trade volumes have already exceeded the limit of million tons of
cargoes, the role of logistics in the trade chain is becoming increasingly
important, therefore we want to have full control of this link of the trade
chain. 

We also believe that the company will expand its activities by searching for
other new customers.  Notwithstanding the big number of companies providing
similar services in Klaipeda seaport and competition is very severe, Jungtine
Ekspedicija can offer more to its clients than some other companies, since it
enjoys the exclusive right to use roofed warehouses with 57 thousand tons
capacity and liquid products terminal with 7.5 thousand tons capacity in
Klaipeda seaport, its staff have high qualifications and immense experience. 
Lithuania is a splendid country for cargo transit from East to West and vice
versa, therefore there is a potential for developing foreign companies aimed
services.  The major clients of the company come from Germany, Ukraine,
Lithuania, Russia, Latvia, and at present the company is in the process of
negotiations with French company trading in minerals on cargo transportation to
CIS countries through Klaipeda seaport", says Mr. Andrius Pranckevičius, Deputy
Managing Director of AB Linas Agro 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 and 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, operator of
lignin biofuel accumulation UAB Lignineko and other companies. The financial
year of the companies begins on 1 July. The total headcount of the Group
exceeds 1000 employees. 

Together with partners, the controlling company owns logistic company UAB
Jungtinė Ekspedicija and grain storage company Karčemos Kooperatinė Bendrovė. 

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




         More information:
         Andrius Pranckevičius
         Deputy Managing Director of AB Linas Agro Group
         Phone +370 687 71 419
         E-mail a.pranckevicius@linasagro.lt