AS VIRŠI-A: Regarding the planned upstream merger

VIRŠI-A
Company Announcement AS VIRŠI-A: Regarding the planned upstream merger

It is planned to reorganise the structure of AS VIRŠI-A Group by merging its subsidiary SIA Viršu nekustamie īpašumi into AS VIRŠI-A. This subsidiary is a real estate developer and owns part of the VIRŠI service stations which are leased to AS VIRŠI-A. The aim of the reorganisation is to simplify the structure of VIRŠI Group, make management more efficient and reduce administrative costs. As a result of the reorganisation, it is planned that SIA Viršu nekustamie īpašumi will transfer all its assets, rights and liabilities to AS VIRŠI-A and will cease to exist without liquidation proceedings. The reorganisation agreement regarding AS VIRŠI-A will be audited by a certified auditor to be elected at the shareholders' meeting on 12 May 2023. The reorganisation will start in April 2023 and isplanned to becompleted by September 2023.

The shares of AS VIRŠI-A are admitted to trading on Nasdaq Baltic First North Market.
The certified adviser for AS VIRŠI-A is Law Office Eversheds Sutherland Bitāns.

Virši is a rapidly growing energy commodities trader and convenience store network with 28years of experience. Currently there are 70 service stations in the Virši network that employ over 740 employees across all of Latvia. On November 11, 2021, AS VIRŠI-A shares were admitted to trading on the alternative market First North of Nasdaq Riga stock exchange

Contact details:
AS VIRŠI-A
Undīne Priekule
E-mail: [e-mail]
Telephone: [phone]

Certified adviser:
ZAB Eversheds Sutherland Bitāns SIA
Justīne Ignatavičute
E-mail: [e-mail]
Telephone: [phone]