On August 23, 2018, the Zemgales District Court decided to approve the application of the Baltic Dairy Board regarding the withdrawal of the application for a legal protection proceeding and the termination of civil proceedings.

During the development of the legal protection plan we communicated with creditors and we came to conclusion that the vast majority of creditors are willing to cooperate in order to gradually resolve the situation.

Creditors are now gradually agreeing with a repayment schedule for 2019. Taking in to account the current situation, it was decided not to continue the legal protection process and to continue to settle liabilities to creditors in accordance with the agreements. The company plans to resume production in November 2018, producing specific raw materials for global companies operating in the infant / baby food sector.

Raw milk will not be used as raw material in production, but such a possibility will remain in the future. Considering above mentioned, starting in February 2019, the company will be able to gradually start settling liabilities to creditors.

         Additional information:
         Kaspars Kazaks
         chairman of the Board
         Phone +371 26010072
         e-mail:kaspars@bdb.lv