Utenos Trikotazas - Acquisition or disposal of a block of shares

CORRECTION: SBA Concern has acquired 24.94% of shares of AB “Utenos trikotažas”

Notification on the acquisition of a block of shares

Utena, Lithuania, 2016-06-13 12:13 CEST (GLOBE NEWSWIRE) -- On 9 June, SBA
Concern and investment funds Amber Trust, KJK Fund, Firebird Republic Fund and
Firebird Avora Fund concluded a transaction regarding acquisition of shares of
AB “Utenos trikotažas”, after which a portfolio AB “Utenos trikotažas” shares
owned by SBA Concern increased to 86.76%. The total transaction value amounts
to almost 1.3 million euro. 

“Towards the end of the funds’ investment period the partners have transferred
their shareholdings to SBA. During the decade-long partnership and working hand
in hand we have overcome the global financial crisis and made significant
changes in the company’s business strategy. We are happy that this cooperation
has been successful and useful. Decision of SBA Concern to increase the
controlled shareholding is based on the current company performance trends and
future development potential,” comments Algirdas Šabūnas, the chairman of the
board of AB “Utenos trikotažas” and vice-president of SBA Concern. 

Structure of the capital of AB “Utenos trikotažas” after the transaction is as
follows: SBA Concern – 86.76%, minor shareholders and other investment funds –
13.24%. 

Consolidated sales of AB “Utenos trikotažas” group during the first quarter of
2016 amounted to 5.0 million euro and increased by 14.4% if compared to the
same period of 2015. During the first quarter of 2016 AB “Utenos trikotažas”
group earned operation profit of 94 thousand euro, meanwhile during the same
period of 2015 it suffered operating loss of 50 thousand euro. The growth has
resulted from the company’s development strategy which has been launched in
2012 and has been consistently implemented thereon. 

SBA Concern is the owner of the largest knitwear manufacturer in the Baltic
states – AB “Utenos trikotažas”. SBA Concern is a strategic investor managing
one of the largest business groups in Lithuania. It comprises 26 companies
operating both in this country and abroad. SBA’s main activity areas are the
following: furniture and light industrial production and furniture retail. 



For more details on the material event please contact Eimundas Mačiulis, Chief
Executive Officer of AB “Utenos trikotažas”, on +370 389 51445.

Attachments:

UAB koncernas SBA_acquisition of a block of shares.pdf