The unaudited financial statements of UAB “Vanagas Asset Management,” including the consolidated financial statements for the period ended 30 June 2025, are hereby attached.
According to the Information Document dated 5 August 2025 and the Terms and Conditions of the Bond Issue, none of the Financial Covenants, as set out in Clauses 10 b) and 10 c), have been breached, since at the latest covenant testing date of 30 June 2025:
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The Adjusted Equity Ratio (the ratio of Adjusted Equity to Adjusted Assets on a consolidated basis) amounted to 72% (under the Terms, this ratio must not be lower than 30% (thirty percent));
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The ratio of the nominal value of outstanding Bonds to the Net Asset Value of the Pledged Shares was 0.49 (under the Terms, this ratio must be equal to or less than 0.5).
Additional information
UAB “Vanagas Asset Management” is part of the wider UAB “Vanagas Group,” operating as an investment holding company. Its main activity is investing in selected, defined, and lower-risk projects: funds and project companies engaged in real estate development in Lithuania. Current investments include projects in Vilnius, Kaunas, Druskininkai, and Nida.
For more information please contact:
Raimundas Lukoševičius
CFO
raimundas@vanagasgroup.lt
+370 646 50488