OREANDA-NEWS. Joint Stock Company Reverta informs that its Management Board Member, Senior Vice-President Edgars Miļūns has decided to make a career move to another company and will resign as of 1 June 2016.  

During the six years with Reverta, Edgars Miļūns has proved himself an excellent manager and expert in the field of real estate development, management and sales, especially in what regards complex high value projects. Reconstruction, lease and subsequent sale of the Air Baltic headquarters for the total amount of EUR 6.19 m was one of his most recent successful projects.

In order to reduce administrative costs and also in view of the planned termination of Reverta’s operations by the end of next year, Reverta’s Supervisory Board has supported the proposal of the management to continue with a two person Management Board. The work will be carried on by the President, Chairperson of the Management Board Solvita Deglava and Senior Vice-President, Member of the Management Board Ruta Amtmane.

According to Reverta’s Articles of Association, the Management Board can take decisions with as few as two members.


Additional information:

The activities of Reverta are focused in three main directions: loan restructuring, legal recovery, and real estate management. In accordance with the Restructuring Plan for Parex Bank approved by the European Commission, Reverta’s operation has to end by the conclusion of 2017. By that term Reverta has to complete the workout of its portfolio and discontinue all actions.