On August 18, 2025, a reconvened meeting of creditors (hereinafter - the Meeting) of the AUGA group, AB under restructuring (legal entity code 126264360, registered office address: Konstitucijos pr. 21C, Vilnius; hereinafter - the Company) took place. Over 73% of all creditors participated in the meeting, therefore a quorum was reached. The absolute majority of votes of all participating creditors - only 5 per cent of all participating creditors voted against - approved the draft restructuring plan of AUGA group.
The Meeting voted on the August 11, 2025 version of the draft plan, which came as a result of numerous consultations with creditors. In addition to four strategic groups of action, it also provides for greater involvement of creditors in the management of the Company, granting the creditors an opportunity to nominate no less than two candidates to the Company's independent Board, nominations stemming from the largest representatives of mortgage and unsecured creditor groups respectively, as well as to form a Creditors Committee, which would actively participate in the implementation of four strategic measures for settling accounts with creditors and restoring the viability of the Company.
"I am sincerely grateful to our creditors for their trust and for giving us the opportunity to fully settle our debts within the planned period. Our restructuring plan has convinced the vast majority of creditors, and the support we have received today is only the beginning - the most important thing is for the plan to be implemented responsibly and consistently. We believe in both the potential of our dairy and crop farming businesses and the ability of our team to implement change. We also appreciate the constructive cooperation with creditors, which will be extremely important throughout the process - their insights and participation will help us make responsible and effective decisions. By working together, we can achieve our goal and implement the restructuring plan within the expected timeframe," says Kestutis Jušcius, Chairman of the Board of AUGA group.
On 19th August, 2025, this draft plan will be submitted to the Vilnius Regional Court for approval.
Contacts:
CEO of AUGA group, AB, undergoing restructuring
Elina Chodzkaite - Barauskiene
+370 5 233 5340
