VLN: GRG: GRIGISKES AB signed an agreement of transferring of a part of activities (wood fiber board manufacture) to a subsidiary

Grigiskes AB
Notification on material event GRIGISKES AB signed an agreement of transferring of a part of activities (wood fiber board manufacture) to a subsidiary

Vilnius, Lithuania, 2012-01-02 15:07 CET (GLOBE NEWSWIRE) -- Implementing the decision of December 1, 2011 of the Board of GRIGISKES AB to transfer one of segments of GRIGISKES AB activities - the production of wood fiber board - to 100% owned subsidiary Baltwood UAB, in exchange for newly issued shares of the company, on December 31, 2011 GRIGISKES AB and Baltwood UAB signed an agreement oftransferring of the part of activities.

As it was mentioned, the Board of GRIGISKES AB believes that the fact oftransferring of the part of activities of GRIGISKES AB will not have significant impact on financial indicators of the Group of GRIGISKES AB.

         Gintautas Pangonis
         General Director
         ([phone]