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 Juščius
Chief Executive Officer
+370 5 233 5340
