Announcement on the sale through competitive bidding of the shares owned by the of “LAN” Ltd. – a PNB Banka group company


The insolvency process administrator of the insolvent AS PNB Banka, registration No 40003072918 (hereinafter – “the Bank”), Vigo Krastiņš and LAN Ltd, registration No 286.110.1111186 (hereinafter – “LAN Ltd”) in cooperation with SIA Latio, registration No 41703000843 (hereinafter – “Latio”), hereby announce the sale of LAN Ltd company shares owned by the Bank. Company owned the real estate located in 1/3 highway Tsitsernakaberd No.79/80, Malatia Sebastia District, Yerevan, Armenia, (hereinafter – “the Real Estate”) in a voluntary competitive bidding.

The Real Estate consists of a two office premises:

• No. 79 located on the 1st floor (cadastral numbers – land 01-007-0282-0121, premises 01-007-0282-0121-001-079), area 2464 sq.m;

• No. 80 located on the 2nd floor (cadastral number - land 01-007-0282-0121, premises 01-007-0282-0121-001-080), area 2386 sq.m


The appraised value and starting price of the LAN Ltd company shares – USD 2 807 218,00 .

The payment shall by transferred in EUR according to Bank of Latvia exchange rate..Application deadline 18.02.2022, 05:00 PM.


To arrange for examination of the Real Estate and find out more information about it, please call Latio at +371 67032300 on business days from 9:00 AM to 5:00 PM.

Information on applying for the competitive bidding, the competitive bidding procedure, conditions for closing transactions and other relevant information is provided in the competitive bidding regulations available free of charge on the Bank’s website or Latio’s website For more information on competitive bidding regulations please call +371 29415520.


All persons willing to participate in the competitive bidding should complete the following:

- by 18 February 2022, 05:00 PM, attend an on-site identification at the Bank’s office, submit the application form filled out in compliance with the Regulations, as well as all other documents indicated therein;

- by 18 February 2022, 11:59 PM, transfer the participation fee of EUR 121, incl. VAT – EUR 21 and transfer the deposit of USD 280 721,80, i.e. 10% of the starting price, to the Bank’s account No LV69BLIB1001005254003, in AS “Baltic International Bank”. The payment shall by transferred in EUR according to Bank of Latvia exchange rate.

The application for participation in the competitive bidding and the documents attached thereto shall be submitted at the Bank’s office in Riga, 15-2 Elizabetes Street (Latvian: Elizabetes iela 15-2), on business days from 09:00 AM to 05:00 PM, or sent via e-mail to in the form of an electronic document duly signed with a secure electronic signature and containing a time stamp.