As announced on 11th December 2020 (https://cns.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=964106&messageId=1214770 ) Baltika Group will continue with implementation of business model, focusing going forward only on developing and marketing women clothing brand Ivo Nikkolo. Based on this AS Baltika has signed in April an agreement to sell „Monton“ trademarks in Europe to Shenzhen Maiteng International Apparel Co.Ltd operating Monton Sports sportswear brand. All the proceeds from the sale will be used to repay a loan to the bank which holds the pledge to the trademark. Baltika Group will have the license to sell under the „Monton“ brand for free untill the end of 2023.
Sale of „Monton“ trademarks is not considered a significant transaction in accordance with Nasdaq Tallinn Requirements for Issuers.
Flavio Perini
Chairman of the Management Board, CEO
Flavio.perini@baltikagroup.com