Belarusian Local Court Ruled on a Fine of 11,6 Million Euro for Lidskoe Pivo
Olvi plc Inside information 29 March 2023 at 6.00 pm.
Belarusian Local Court Ruled on a Fine of 11,6 Million Euro for Lidskoe Pivo
The Court of Leninskiy district of Minsk city court has rejected the appeal made by Olvi´s subsidiary Lidskoe Pivo regarding the fine set by The State Control Committee of the Republic of Belarus and ordered Lidskoe Pivo to pay a fine of 35,8 million Belarusian ruble (11,6 million euro*). Olvi announced on February 20. 2023 about the fine based on the Committee inspection and Lidskoe Pivo´s court appeal regarding the fine.
Lidskoe Pivo will file their appeal with the relevant higher court.
Due to the uncertain situation, Olvi will not update the financial outlook. The earlier outlook was “Due to the uncertain situation, Olvi will cancel the financial outlook published on the 10th of February 2023 and will not give a new outlook.”
*Exchange rate applied: 1 BYN = 0,324 Euro
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Olvi plc
Tiina-Liisa Liukkonen, CFO, Tel. +358 41 505 4779
Patrik Lundell, CEO, Tel. +358 50 4775 181
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