AS VALMIERAS STIKLA ŠĶIEDRA files for court approval of legal protection plan amendments

30. April, 2020

The Board of Directors of AS VALMIERAS STIKLA ŠĶIEDRA (hereinafter – the “Company") hereby announces that on April 30, 2020, the Company has filed an application with the Court for approval of legal protection proceedings (the “LPP”) amendments.

The Company has received consent from 100% of secured creditors and 78.5 % of unsecured creditors for amendments applied to the LPP. The Company appreciates the support it has received so far and hereby expresses its gratitude to its various creditors and other stakeholders.

The application will be considered by Vidzeme District Court in written procedure on May 14, 2020. NOTE! Due to the complexity of the case on the date of consideration has been moved to May 19, 2020. Please see announcement here.

As previously reported, on March 31, 2020, the Company informed about the amendments to the LPP Plan. Please see the announcement here.

On April 3, 2020, the Company distributed the amendments to the Plan to the creditors and requested consent by April 24, 2020. The Company also published the most significant amendments included in the Plan. Please see the announcement here.

On June 18, 2019, the Vidzeme District Court adopted a decision to initiate the Company's LPP and October 18, 2019 the Court adopted a decision approving the plan of Company’s legal protection proceedings and the respective process implementation. Please see the announcements here, as well as here.