AB “Grigeo” transferred the tissue paper business to its subsidiary

     AB “Grigeo” transferred the tissue paper business to its subsidiary

AB “Grigeo” (the official name is currently being changed to AB “Grigeo Group”, hereinafter – the Company) has implemented previously announced structural changes of Grigeo group of companies. On 30 April 2024 the Company has transferred the tissue paper business to 100% owned subsidiary UAB “Grigeo Tissue”, legal entity code 306639125, address Vilniaus g. 10, Grigiškės, Vilnius City Municipality, the Republic of Lithuania, data about the company is collected and stored with the Register of Legal Entities of the Republic of Lithuania (hereinafter – Grigeo Tissue).

The transfer of tissue paper business to Grigeo Tissue is implemented by increasing its authorised capital and paying for the entire newly issued shares by the Company’s contribution in-kind i.e. the tissue paper business, as a complex of assets, rights and obligations that from an organisational point of view is an autonomous economic unit, in exchange for newly issued ordinary shares of Grigeo Tissue.

The Company will acquire newly issued shares of Grigeo Tissue in exchange for transferred tissue paper business after the Articles of Association of Grigeo Tissue will be registered with the Register of Legal Entities of the Republic of Lithuania due to the increase of authorized capital.

Tomas Jozonis
Chief Executive Officer of Grigeo AB
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