A decision was made to implement a new business model for AUGA group, AB and the companies it controls
19 Mai 2023 - 4:24PM
A decision was made to implement a new business model for AUGA
group, AB and the companies it controls
On 19 May 2023 the Board of AUGA group, AB
(hereinafter – the Company) has approved the guiding principles of
the future business model for AUGA group AB and the companies it
controls (hereinafter – the Group), one favourable to the
dissemination of technologies, which will help the Group further
pursue the goals set out in its strategy and enable it to develop
and commercialise its agricultural technology (AgTech)
operations:
- The Group will continue to develop sustainable agricultural
technologies. It will further improve the AUGA M1 biomethane- and
electricity-powered tractor and further develop specialised feed
technology for reducing methane emissions from livestock farming.
The Group also intends to develop other agricultural machinery that
uses sustainable energy sources and to continue developing
standards for sustainable agricultural practices.
- The Group will implement an organisational model based on
cooperative principles which will enable use of the innovations
created and developed by the Group not only by the Group's
companies but also by other farms.
- The Group’s new organisational model will first be tested and
refined among the Group's farms. If it proves effective, there are
plans to allow other farms as well to join the new model based on
cooperative principles in the second half of 2023, thereby making
the technologies developed by the Group publicly available and
commercialising them.
Based on guiding principles of the future
business model for the Group on 19 May 2023 the Management of the
Company has decided to start testing of Group’s new organisational
model among the Group's farms.
The Company will present the Group's new
operating model at an online event for the public and investors on
25 May 2023 at 10:00 am.
We ask those wishing to participate in this
online event to register here.
A webcast link will be sent to registered participants on the
day of the event. The event will be held in English. It will be 30
minutes in length.
To give investors due time to familiarize
themselves with the information announced by the Company, the
Company will request a suspension of trading in its shares and
bonds on 25 May 2023 from the start to the end of the trading
session. The information which is supplied in the presentation will
also be made available through the stock exchange's information
system.
Kęstutis JuščiusChief Executive Officer+370 5 233 5340
Auga Group Ab (LSE:0IR4)
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