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OLF: CORRECTION: "Olainfarm" to Expand the Chain of “Latvijas Aptiekas”

Spekuliantai.lt | 2013-03-14 | NASDAQ OMX biržų naujienos | perskaitė: 927
Raktiniai žodžiai: Olainfarm, OLF
OLF: CORRECTION: "Olainfarm" to Expand the Chain of “Latvijas Aptiekas”

Olainfarm Company Announcement 14.03.2013

CORRECTION: "Olainfarm" to Expand the Chain of “Latvijas Aptiekas”

During February of this year AS "Olainfarm" agreed with AS “SEB Banka” to
increase its loan by 6.6 million euros to 12 million euros. It is planned that
proceeds from the loan be used to purchase pharmacies and other companies
related to pharmaceutical business. The loan will be due on May, 2105.

Olaine, March 13, 2013, 2013-03-14 08:44 CET (GLOBE NEWSWIRE) --

Correction: changes in the loan due date in the first paragraph.

"In order to keep the momentum and maintain the long term growth of the
company, we will continue with expansion of chain of „Latvijas Aptiekas”. We
are considering the purchase of five new pharmacies which will bring the total
number of our pharmacies close to 50 all over Latvia,” says Salvis Lapins,
Member of the Board of AS "Olainfarm".

Because of the increase in loan, several new commercial pledge and mortgage
loans were signed. According to them the maximum combined amount of secured
claim is slightly above 13 million lats. Just as with previous amount of loan,
shares in daughter companies of AS „Olainfarm”, real estate and other property
is pledged.

Consolidated profit and loss account of AS "Olainfarm" for operations of 2012
shows that the company has achieved new record profit of 9.75 million lats
(13.88 million euros), which is an increase by 41% compared to 2011, when
profit of AS "Olainfarm" was 6.91 million lats (9.84 million euros)



A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 40
years of experience in production of medication and chemical and pharmaceutical
products. A basic principle of company's operations is to produce reliable and
effective top quality products for Latvia and the rest of the world. Products
made by the Group are being exported to more than 30 countries of the world,
including the Baltics, Russia, other CIS, Europe, Asia, North America and
Australia.


Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
E-mail: [email protected]

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2013-05-27 | NASDAQ OMX biržų naujienos 2013-05-27 | NASDAQ OMX biržų naujienos 2013-05-27 | NASDAQ OMX biržų naujienos 2013-05-27 | NASDAQ OMX biržų naujienos

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