UAB„Orkela“ Publishes Audited Financial Statements for the Year, Ended 31 December 2023.
30 Abril 2024 - 10:25AM
UAB„Orkela“ Publishes Audited Financial Statements for the Year,
Ended 31 December 2023.
UAB „Orkela“ (hereinafter – the Company)
publishes audited financial statements for the year. Ended 31
December 2023.
The principal activity of the Company is real
estate development and construction. The Company owns a land plot
and building complex in Vilnius, at Vasario 16 st. 1. The Company
is developing a lyceum and hotel complex next to the Church and
Monastery of the Apostles St. Philip and James. The Company expects
to complete the Project in 2024.
Highlights of 2023
- On 2nd January 2023, the Company entered into a lease agreement
with the main project tenant for 18,082 square meters of space in
the Project, where Royal Russell branded school with student
accommodation services will operate.
- In Q1 2023, the Company issued two tranches of bonds totaling 5
571 units (EUR 5 571 000 nominal value) out of its total bond issue
with a nominal value of EUR 40 million.
- In Q2 2023, the Company issued one tranche of bonds consisting
of 852 units (EUR 852 000 nominal value) out of its total bond
issue with a nominal value of EUR 40 million.
- On 14th November 2023 the Bank of Lithuania approve the Base
Prospectus for the bond issuance.
- On 16th November 2023, the Company terminated the lease
agreement with Royal Russell branded school.
- In Q4 2023 the Company issued one tranche of bonds consisting
of 2 551 units (EUR 2 551 000 nominal value) out of its total bond
issue with a nominal value of EUR 40 million.
- A total of 8 974 bonds (with EUR 8 974 000 nominal value) were
issued in 2023.
Key events after the end of the
financial year
- In January 2024, the Company issued 11 066 units of secured
non-covertible bonds (with a nominal value of EUR 11 066 000) from
the total 40 million EUR emission (nominal value).
The decision of the sole
shareholder
According to the Law on Companies of Republic of
Lithuania, the annual financial statements prepared by the
management must be approved by the General Shareholders’ meeting.
The shareholders of the Company have the right to approve or not to
approve the financial statements and to demand the preparation of
new annual financial statements.
On 30 April 2024 the Company’s shareholder made
a decision regarding the approval of the Company’s financial
statements for the year 2023 and the distribution of profit (loss)
as indicated below:
|
Article |
Sum, EUR |
|
Retained earnings (losses) – at the beginning of the
financial year |
(10,811,331) |
|
Comprehensive income for the reporting period – net profit (loss)
of the reporting year |
(110,256) |
|
Profit transfer to the legal reserve |
- |
|
Payment of dividends from undistributed profit |
- |
|
Retained earnings (losses) – at the end of financial
year |
(10,921,587) |
|
Profit distribution: |
|
|
To be paid out as dividends |
- |
|
Transfer to the legal reserve |
- |
|
Retained earnings (losses) for 2023 and prior financial
years |
(10,921,587) |
On 30 April 2024 the Company’s shareholder also
made a decision regarding the appointment of the audit firm for the
audit of the Company’s financial statements for years 2024-2026 and
approved the management’s proposal to appoint UAB
“PricewaterhouseCoopers”, company code 111473315, to perform the
audit of Company’s financial statements for the years
2024-2026.
More information:
Director of UAB „Orkela“
Anastasija Pocienė
Anastasija.Pociene@lordslb.lt+370 671 16 232
- Orkela audit report EN_signed
- uaborkela-2023-12-31-en.html