The Board of the Joint Stock Company “Latvijas balzams” (hereinafter also “the Company”) informs that significant transaction has been concluded with regard to extension of previously granted guarantee related to Overdraft Agreement concluded between S.P.I. Spirits (Cyprus) Limited, Cyprus reg. No. HE 102536, and Luminor Bak AS (hereinafter – Credit agreement). The impact of the transaction on the Company's commercial activities is evaluated positively.
The transaction is also forecasted to have a positive impact on the shareholders of JSC “Latvijas balzams”, which are not considered as related parties to the transaction, as the Company will receive additional income. The Audit committee opinion on the transaction has been obtained.