In order to further streamline its corporate structure, the largest environmental resource management and waste recycling group in the Baltic States, AS (JSC) Eco Baltia, has initiated a reorganization. This involves separating its subsidiary company, SIA (LLC) Vaania, from the parent company, Eco Baltia, along with the associated rights and obligations, and transferring them to the group's environmental sector company, SIA (LLC) Eco Baltia vide.

The reorganization is being carried out with the aim of streamlining and simplifying the group's structural management, thereby making the day-to-day operations of the companies more efficient. After the planned reorganization, Vaania will continue to exist and operate at its current scale, including under the terms of existing contracts.

These changes do not affect the financial indicators of the Eco Baltia group, and the changes will not in any way affect or diminish the share capital of either Eco Baltia or the acquiring company Eco Baltia vide, nor their ability to fulfill their obligations, including to the bondholders of the group, employees, customers, and suppliers. Eco Baltia has provided the bondholders' representative with a compliance certificate on this matter.

The reorganization will become effective as soon as the entry on the completion of the reorganization is made in the Commercial Register of the Register of Enterprises of the Republic of Latvia. Prior to this, an Extraordinary General Meeting of shareholders will be held to approve the completion.

About Vaania

Vaania is Eco Baltia group company, which according to the concession agreement concluded with Sigulda Municipality providing waste management services in Sigulda Municipality by using concession resources - Sigulda Municipality limited liability company JUMIS.

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 ITERUM JSC (until 6 June 2024 - 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.

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