AUGA group AB Announces Resignation of Linas Strelis as Board Member
May 24, 2019 at 01:58 am
Share
AUGA group AB was informed that the Bank of Lithuania imposed EUR 200,000 fine on the company’s board member Linas Strelis. According to the Supervisory division of the Bank of Lithuania, the fine was imposed on Strelis because he allegedly has entered into transactions for the acquisition and sale of shares of AB Žemaitijos pienas in possession of and using inside information, and encouraged his family members to do the same; as a result, he has breached the prohibition of insider trading established by Regulation of the European Parliament and of the Council on market abuse. Board member Linas Strelis informed the company, that he does not agree with the decision of the Bank of Lithuania, deems it ungrounded and illegal and considers appealing against it in court. On 23 May 2019 Linas Strelis, taking into account the company’s interests, delivered to the company a notice of resignation from the position of a board member effective immediately, which was accepted by the company. Linas Strelis seized to be a board member with effect from 23 May 2019.
Auga Group AB, formerly Agrowill Group AB, is a Lithuania-based company engaged in the agriculture sector. The Companyâs activities are structured mainly into three divisions, namely Mushroom-growing, Plant production and Livestock production. The Company offers white, brown, portabella, eryngii, pleurotus and shiitake mushrooms. It specializes in organic wheat and other crops, including organic vegetables and organic feed for livestock in its farms. The Company supplies potatoes, beetroots, onions, carrots, marinated champignons, marinated beetroots, among others. The Company operates own trademark AUGA. In addition, the Company is involved in own farms management. The Company has numerous subsidiaries, including UAB Arginta Engineering, UAB AVG Investment and UAB Agro GIS, among others. It operates domestically on the Lithuania territory.
AUGA GROUP AB 
