MBF Group
Due to the questions coming to our company from Shareholders and investors observing events at MBF Group SA, and due to the fact that we have received updates from the Lithuanian contractor over the past few days, we have decided to publish a current report with the most important facts regarding the mentioned contract.
At the same time, we would like to inform you that we have chosen this route of communication due to the need for transparency and to ensure equal access to information. We would like to point out in advance that the publication of the report is intended to inform all interested parties of an update on the status of contract implementation, and not to influence, negatively or positively, the company’s stock price (which is not the issuer’s role).
According to the information and data provided from the Lithuanian contractor, he stated that he is currently awaiting an advance payment for coal deliveries from the end customer, which will be immediately transferred to the company’s account. The Board has received assurances that the contract is considered unthreatened at the present time as to its financial terms and performance. Due to its scale and size, there has only been a postponement regarding the prepared delivery schedules, payment terms and the organization of logistics at the pickup and delivery site, which we are being kept informed of.
At the same time, we are aware of the great significance of the contract and its importance for the company, so we will keep you informed about the fulfillment of its next milestones, and in the case of implementation – also about the volumes and values of individual deliveries. In addition, the Board of Directors notifies that if a final inviolable schedule is established, due to the anticipated time and workload, we will seriously consider abandoning other previously concluded agreements and letters of intent to work on coal supply.
