Brief: Agrowill Group AB receives conclusion on valuation of stake in UAB eTime invest

Auga AB

19/02/2015 07:50

Feb 19(Reuters) - Agrowill Group AB  AVG1L.VL : 
     
    * Said on Wednesday it received a conclusion of the Property 
Oversight Agency on the compliance of the business valuation 
report prepared by UAB OBER-HAUS nekilnojamas turtas on the 
valuation of the shares in UAB eTime invest 
    * In its Conclusion, the Property Valuation Oversight Agency 
did not specify whether the business valuation report valuates 
the shares in UAB eTime invest too high or too low 
    * 100 pct shareholding in UAB eTime invest (paid by the 
company's shareholder Vretola Holdings Limited in exchange for 
company's shares) has been evaluated LTL 16.7 million ($5.85 
million), which is LTL 2.55 million more than price of 
subscribed shares of the company 
    * UAB OBER-HAUS nekilnojamas turtas has challenged the 
conclusion of the Property Valuation Oversight Agency and the 
dispute has not been resolved in court 
    * Regardless of the above-mentioned aspects regarding the 
validity of the conclusion of the Property Valuation Oversight 
Agency, the company has no grounds to doubt the competence and 
decisions of property valuator UAB OBER-HAUS nekilnojamas turtas 
 
     
  
 Source text for Eikon:  ID:nEM1867180  
     
 Further company coverage:  AVG1L.VL   
    
 
 
 
($1 = 2.8536 litas) 
 
 (Gdynia Newsroom) 
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