Terseta: 2020 audited financial statements, management report and the statements by the responsible persons with the issuer of UAB Terseta

Vilnius, Lithuania, 2021-04-30 16:57 CEST --

We are providing audited financial statements of UAB "Terseta" for the year
2020, management report and the statements by the responsible persons within
the issuer. 

A spin-off of the Company was completed on the 25th of November, 2020, by
separating a part of the activities of the Company, related to management and
lease of real estate located on the Juozapaviciaus str. 13, Vilnius, by
transferring this activity into a newly established company - UAB "J13",
registration code 305663041, 100% of shares of UAB "J13" are owned by sole
shareholder - closed ended real estate investment fund for informed investors
Lords LB Baltic Fund IV 

Net revenue of the Company were equal to 1,477,986 EUR in 2020 (2,172,471 EUR
in 2019). Net revenue were lower compared to 2019 due to the transferred
activities according to spin-off terms and lower occupancy of the Investment
assets during 2019. 

Company continues its activities of management and lease of the newly acquired
(December, 2020) real estate property, located on the Gedimino avenue 7,
Vilnius (former Vilnius Post Office building) and no structural changes in the
Company's operations are planned. Company is seeking to prepare all necessary
documents to receive a building permit and carry out major repair works of the
newly acquired real estate property on Gedimino avenue 7, by preparing and
adapting the building to new tenants in 2021. 

More information in the audited financial statements of UAB "Terseta" for year
2020 and other attachments. 

English translation of the audited financial statements of UAB "Terseta" for
year 2020 signed with physical signatures, together with original Independent
Auditor's Report in English has been uploaded in the attachments, replacing the
translation of the Independent Auditor's Report of the previous version of the
attachment (Attachment: BFIV Terseta FA 2020 12 31 EN.pdf). 




     Rytis Zaloga
     CEO
     
     Phone: [phone]
     Email: [e-mail]

Attachment:
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