The savior of the state becomes 10 million. Eur as an investor in Novatur

Information on market reactions was added.

Novaturas will announce this in June, this information will suspend the trading of shares.

According to the company’s report, VIVA will buy 10 million. Novaturo bonds denominated in euros.

In 5 million Eur ileista bus konvertuojamj obligacij, u likusius 5 mln. Eur paprastj.

J duration 6 years. The company may repay the bonds in whole or in part within a previously agreed period.

The terms of the loan were established in draft resolutions that will soon be announced by the shareholders’ meeting.

They indicate that convertible bonds will be redeemed if they are not repurchased on time or in the event of a breach of contract. Siloma will issue two convertible bond issues. The first 4.99 million. Issuance of convertible bonds in euros with a nominal value of 100 euros. A second issue of 10,000 euros is calculated with a nominal value of 100 euros, for a period of 115 months, in the event that a discount of 10% would be applied.

In the case of conversion shares, a 15% discount would have been applied to the holder of the first bond issue, calculating the theoretical price without the subscription commission method.

Novaturas affirms that the agent’s investment will allow the company to implement the planned strategic initiatives and ensure financial protection against possible changes in the future, which may be caused by the changing dynamics of the coronavirus.

When making the investment decision, the State Investment Management Agency, which manages the Business Support Fund, evaluated the sustainability of the business model.

We believe that after the crisis, Mons will travel the world again and Novaturas will be successful. The support funds provided by the Business Support Fund will help the Novaturas group of companies to ensure financial liquidity, save jobs and financial protection from possible changes in the future if the changing dynamics of the virus are not favorable for the tourism sector, says the CEO of VIVA. Dainius Vilinskas.

According to Novaturas, the convertible bond issue, if approved by shareholders, will result in Luminor Bank, Novaturas’ main creditor, also providing more favorable loan repayment terms.

AB Luminor bankas will reduce the salaries of the loans and the 5.5 million long-term loan granted to Novatur. Deadline for repayment of loans in euros until 2023. before the end of the year, changing the payment schedule and better adjusting it to the projected cash flows of the company, and eliminating the requirement that the company maintain frozen deposits of 2 , 1 million. Eur, instructing them to repay the loan. According to the agreements currently in force, the company must repay these loans to the bank before February 2023. At the same time, the agreements were discussed in advance and provided favorable conditions for the extension of the guarantee limit already for the 2022 season, notes Novaturas in a June report.

When announcing the attraction of public investment, Novaturas publishes a forecast for the recovery of the sector this year.

Of course, it will be some time before we can return to the pre-pandemic period, so we will have the means to secure a larger financial reserve. The funds attracted will help us to further strengthen the leadership position of package tours in the Baltic States. The financial terms of the agreement are also conducive to ensuring a speedy recovery from deregulation, says Audron Keinyt, director of the Novaturas Group.

PVF is the so-called last hope lender for a medium and large business battling a pandemic. Lend to companies both directly and by purchasing corporate bonds. The fund is managed by the State Investment Management Agency (VIVA). fond the UAB Valstybs Investicinis Kapitalas (VIK), which currently prepares up to LTL 400 million. Issuance of bonds in euros.

Following the resumption of trading on the news, Novaturas shares rose nearly 10%.

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