The shareholders of AS “Agrova Baltics” (Nasdaq Baltic First North: EGG), at the extraordinary meeting held on April 23 this year, approved the company’s strategic plan to launch a bond issuance programme of up to EUR 30 million in order to finance further growth and investment projects. The decisions adopted at the meeting mark the next stage of development, strengthening “Agrova Baltics” as a vertically integrated agri-food group in the Baltic region and export markets.
Bond issuance programme approved
Shareholders approved the Management Board’s proposal to implement the bond issuance in the form of a programme with a public offering to investors across the Baltic states. The proceeds raised will be used to finance the company’s investment programme and to partially refinance existing liabilities.
Jurijs Adamovičs, Chairman of the Management Board of “Agrova Baltics”, comments: “Shareholder confidence and the decisions taken provide a strong foundation for the next phase of our company’s development in Latvia. We will continue to systematically strengthen our production platform by expanding capacity and moving towards higher value-added product segments. The bond issuance is an important instrument to implement this growth in a disciplined and sustainable manner.’’
Focus on investments and production development
At the meeting, shareholders also supported the company’s key investment priorities, which envisage significant expansion of production infrastructure in Alūksne and Preiļi. The programme includes the construction of three new poultry housing facilities, modernization of the egg sorting and packaging centre, expansion of the feed production plant, development of organic fertilizer production, as well as improvements to related infrastructure.
As a result, a fully integrated, modern production complex covering the entire value chain will be established in Alūksne, while facilities for rearing young poultry will be developed in Preiļi. The project is closely aligned with “Agrova’s” zero-waste strategy, ensuring efficient use of by-products and strengthening the company’s sustainable production approach.
The construction of the three new poultry facilities in Alūksne is planned to be completed in the first half of 2027. At the same time, the company continues to consistently develop its production platform, reinforcing principles of sustainable and responsible production. Already, “Agrova” is a leader in the Baltic states in terms of cage-free egg production volumes and adheres to the highest animal welfare standards in its operations.