Announcement of auctions of the pension plans

The administrator of insolvency proceedings of insolvent AS PNB Banka (registration No 40003072918; hereinafter – the Bank) Vigo Krastiņš and asset management joint-stock company IPAS PNB Asset Management (registration No 40003411599) hereby announce that a voluntary private auction with rising bids will take place on 29 April 2020, at 10:30 AM, at the Bank’s premises at 15-2 Elizabetes Street, Riga (on the 3rd floor), concerning the acquisition of management rights over state funded pension scheme 2nd pension pillar investment plans “PNB active investment plan “GAUJA””, “PNB balanced investment plan “VENTA”” and “PNB conservative investment plan “GAUJA”” (hereinafter – Investment plans).

The starting price of the auction of the Investment plans – EUR 4 000 000,00 (four million euro). The auction price is exempt from the value added tax.

All persons willing to participate in the auction shall, by 22 April 2020, 23.59, transfer a security deposit – 10% of the starting price (i.e. EUR 400 000,00), as well as participation fee of EUR 2420,00 (incl.VAT), to the account of IPAS PNB Asset Management in AS Swedbank, account No LV16HABA0551034560926, and submit to the Bank an application to participate in the auction in the form compliant with the auction regulations, as well as other documents specified in the auction regulations. The aforementioned application and documents attached thereto shall be submitted to the Bank at its premises at 15-2 Elizabetes Street, Riga, or sent to the e-mail address izsoles@pnbbanka.eu as an electronic documents with a safe electronic signature and a time stamp.

The auction regulations are available free of charge before the auction day on the Bank’s website www.pnbbanka.eu or by visitint the Bank’s premises at 15-2 Elizabetes Street, Riga. To arrange a visit, please call +371 67041113.

Note: please kindly note that this is a courtesy translation; in case of questions, kindly refer to the original version in Latvian language.

Auction Regulations
Application
Evaluation
Escrow Account Opening and Maintenance Agreement
Draft Purchase Agreement