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Decisions of the Ordinary General Meeting of Shareholders of Eco Baltia

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On 18 June this year, the Annual General Meeting of Shareholders of the largest environmental resource management and recycling group in the Baltics, Eco Baltia AS, was held.

Resolutions of the Ordinary General Meeting:

1.Approval of the Company’s financial statement and consolidated financial statement of year 2023.

• to approve the audited annual financial statements for the year 2023 of the Company with the loss of EUR 328 240,12.
• to approve the audited consolidated financial statements for the year 2023 of the Company with the profit EUR 1 538 113.
• to cover reporting year loss from previous years accumulated profit.

2. Payment of dividends and establishment of a reserve.

• To pay dividends in amount of 1,000,000 EUR from retained earnings of previous years subject to Luminor Bank AS consent.
• To establish a reserve in amount of 10,000,000 EUR in AS Eco Baltia equity using previously retained earnings for buy-back of shares of the Company and cancelling them after acquisition according to the Commercial Law of Latvia.

3. Approval of the Auditor of the Company for year 2024.

• To approve Deloitte Audits Latvia SIA, Deloitte Lietuva UAB, Deloitte Audit s.r.o. and Deloitte Assurance sp.z. o.o. as auditor of AS “Eco Baltia” and its subsidiaries (in Latvia, Lithuania, Czech Republic and Poland) annual reports for year 2024 with a total expected budget EUR 347 534, expected budget for AS “Eco Baltia” annual report and consolidated reports EUR 57 230.
• To approve the reimbursement of occurred additional costs to auditor for the preparation of AS “Eco Baltia” 2023 annual report in amount of EUR 4 210.

About Eco Baltia
Eco Baltia group is the largest environmental and waste management group in the Baltics, providing the full-cycle waste management solutions from waste collection and sorting to secondary raw material logistics, wholesale and raw material processing as well as PET and PE/PP plastics recycling.
Eco Baltia closed 2023 with a consolidated turnover of EUR 218.4 million, an increase of 4% compared to 2022. Eco Baltia’s total combined sales revenue (pro-forma) in 2023 amounted to EUR 242.5 million.
The Group has more than 2.500 employees in Latvia, Lithuania, Poland and the Czech Republic. Its leading companies are PET Baltija, Eco Baltia vide, Latvijas Zaļais punkts, Nordic Plast, JUMIS, Sigulda, TESIL Fibres, TESIL Fibres, UAB Ecoservice, based in Lithuania, and, from November 2023, Metal Plast, based in Poland.

Eco Baltia shareholders’ meeting will be held on 18 June

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On 18 June 2024, Eco Baltia, the largest environmental resource management and recycling group in the Baltics, will hold its Annual Shareholders’ Meeting.

The agenda of the shareholders’ meeting includes the approval of the 2023 annual and consolidated financial statements and the appointment of the auditors for 2024. The payment of dividends and the establishing of a reserve will also be decided.

Ordinary shareholders meeting of the Company shall take place on June 18, 2024 at 15:00 (Riga time), at Latgales Street 240-3, Riga, Latvia, office of AS “Eco Baltia” and in online communication site.

Shareholders may familiarize themselves with the draft resolutions to be considered at the meeting of shareholders, as well as to submit proposals on the issues included in the agenda at the office of the Company at Latgales street 240-3, Riga, LV-1063, starting from June 4, 2024, on working days from 8:30 to 17:00, contact information: phone +371 67409828 or e-mail address sigita.namateva@ecobaltia.lv.

The shareholders of Eco Baltia AS are INVL Baltic Sea Growth Fund through UAB BSGF Salvus (52.81%), the European Bank for Reconstruction and Development (30.51%) and Māris Simanovičs (16.68%).

Eco Baltia’s second bond issue listed on the Nasdaq Baltic First North market

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On 25 April, the second bond issued by the parent company of the largest environmental resource management and recycling group in the Baltics, AS Eco Baltia, was listed on the Nasdaq Baltic First North alternative market. As a result, the total value of the bonds listed by Eco Baltia on First North has now reached 18 million euros.

In addition to the EUR 8 million of unsecured Eco Baltia bonds already included in First North’s bond list, a further EUR 10 million of unsecured bonds with a nominal value of EUR 1,000 per bond, a fixed annual interest rate of 9% and a coupon payable twice a year have been added. The bonds mature on 2 November 2026.

“We are pleased that the stock exchange can be a successful tool for the development of companies in Latvia, as demonstrated by Eco Baltia’s second successful listing on the Baltic First North market. The capital market is open to entrepreneurs to increase the value of their business through alternative financing. We wish Eco Baltia every success in its future growth,” said Liene Dubava, Head of Nasdaq Riga.

The inclusion of Eco Baltia’s bonds in First North follows a private placement to Latvian, Estonian and Lithuanian investors in November last year. Total demand for the bonds exceeded the offer by more than 1.7 times and attracted more than 100 private and institutional investors.

“We are grateful to our investors for the confidence they have shown in the Group’s growth. In recent years, we have been able to implement significant activities to develop Eco Baltia in the international market. We have achieved the Group’s expansion not only in the domestic market, but also through acquisitions in Lithuania and the Czech Republic. The funds raised from investors have also helped us to develop the Polish market, where last year we acquired a 70% stake in Metal-Plast, Poland’s largest processor of PVC window and door profiles, together with one of our shareholders, INVL Baltic Sea Growth Fund, a private equity fund in the Baltic States. We continue to work on Eco Baltia’s strategic development goals to increase our contribution to the development of the circular economy internationally,” says Māris Simanovičs, Chairman of the Board of Eco Baltia.