17.11.2004, Tukuma gaļas pārstrādes sabiedrība, RIG

Riga Stock Exchange                                                                  17.11.2004



JSC “Tukuma gaļas pārstrādes sabiedrība” comments on the insolvency application



JSC “Tukuma gaļas pārstrādes sabiedrība” Management Board has provided comments about the 

situation when SIA “Schaller Baltikum” has filed an insolvency application against the company. 

There have not been any legal actions implemented to the company fixed assets, current assets 

or securities. The accounts on banks remain open and the company is able to continue the 

business operations.

An agreement has been reached with SIA “Schaller Baltikum” about settling the outstanding debt. 

Right now the company is also reconciling the accounts and payment schedule with other creditors.

Already before this situation the company Management Board has been working on investment 

raising, and the partner and potential investor has been found and has confirmed its 

interest also under the current circumstances. Negotiations are in progress about legal details.