2015-06-23 16:30:00 CEST

2015-06-23 16:30:02 CEST


Lithuanian English
Agrowill Group - Other information

Kęstutis Juščius donated 2.7 million shares in AB Agrowill Group to employees of Baltic Champs


Kęstutis Juščius, Chairman of the Board of Directors of AB Agrowill Group,
purchased 2.7 million shares in AB Agrowill Group, one of the largest
agricultural investment companies in Lithuania, from its subsidiary UAB Baltic
Champs Group under a single direct transaction, and he will donate these shares
to 400 former and current employees of Baltic Champs. The price per share was
EUR 0.217; thus, the total value of the transaction amounted to EUR 585,900.
Kęstutis Juščius will also pay the taxes required to be paid by the donees.
After the transaction, the share held by Baltic Champs Group, the majority
shareholder of Agrowill Group, will decrease from 53 to 51.5%. 

“I have made this step in advance and I have premeditated it carefully. In my
view, this is an absolutely natural aspiration to remunerate the people who
have contributed to the development of Baltic Champs Group and helped implement
many plans. The transaction with Agrowill Group marks the end of one important
stage and the beginning of a new one; therefore, I wanted to share the fruits
of success of the first stage with my team. True, the process has taken a while
because there is neither well-established practice nor proper regulation base
for this type of remuneration in Lithuania”, said K.Juščius. 

With a view to avoid short-term effects on the price of the shares of AB
Agrowill Group, the respective contracts included a two-year restricted sale
period, during which the employees of Baltic Champs Group will not be able to
sell their shares. 

Baltic Champs Group, the company managed by K.Juščius, acquired a 53% stake in
Agrowill Group in the spring of 2014. 



AB Agrowill Group is one of the largest agricultural investment groups in
Lithuania. Based on the unaudited financial data, the Group's sales revenue
amounted to LTL 144.8 million and net profits equalled LTL 30.7 million in
2014. The company employs over 1,000 people. The shares of AB Agrowill Group
are listed on the Nasdaq OMX Baltic and Warsaw Stock Exchanges. 



For further media information, please contact:

Vaidotas Vyšniauskas

Publicum FComm

Tel: +370 612 73474

E-mail: v.vysniauskas@publicum.lt


         Vladas Bagavičius
         member of the Board;
         +370 5 233 53 40