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Novaturas ABNOVATURAS AB (220/2025) Notification of an Agreement by a Person in a Managerial Position
Report no 220/2025
Podstawa prawna: art. 17. 1 MAR.
AB Novaturas (hereinafter - the Company) announces that on March 7, 2025, a binding agreement intended for the conclusion of the main contract, regarding the sale of shares was signed by a member of the Company's Management Board, Ugnius Radvila. Under this agreement, Mr. Radvila intends to sell 740,702 of his shares in the Company to Turkish tourism industry businessman and investor Neset Kockar. The value remains undisclosed at this stage, as the main contract has not yet been finalized.
As previously announced by the Company, on March 7, four current shareholders of Novaturas - Ugnius Radvila, Rytis Šumakaris, Vidas Palinas, and UAB Willgrow - signed a binding agreement, aimed at concluding the main contract, to sell their shares.
The acquisition of shares will be carried out in two phases. The first stage is expected to be finalized within a few weeks, while the second will take place following the completion of due diligence, which is usual for this type of transaction, and other required procedures. Upon completion, the new investor would hold up to 33.2% of Novaturas Group shares.
According to the agreement, the sale of U. Radvila's shares to investor N. Kockar will be executed upon the completion of the first stage of the acquisition.
The Company will provide updates on the execution of the agreement by the managerial person and the completion of the abovementioned stages through separate announcements on the stock.
About the company
Novaturas Group is the only local charter tour operator in the Baltic States with more than 25 years of experience. The company offers summer and winter recreational, sightseeing, exotic, skiing, workation and group trips to many destinations worldwide. According to unaudited data, in 2024, Novaturas Group recorded revenues of EUR 201 mln. and served 239 thsnd. passengers in Lithuania, Latvia and Estonia.