Legal Structure

Myrtyle Ventures Ltd established two further subsidiaries – AS European Lingerie Brands (LV) and AS European Lingerie Group (LV) (previously named AS Lauma International). In the same month all of the shares of LSEZ Lauma Fabrics SIA were firstly contributed to the share capital of AS European Lingerie Brands and then all of the shares of AS European Lingerie Brands were contributed to the share capital of AS European Lingerie Group.

AS European Lingerie Brands established a new subsidiary – E|L|B GmbH (DE) (previously named Platin 1503. GmbH). Later in June 2017, E|L|B GmbH acquired 100% of the shares of Felina International AG (CH).

AS European Lingerie Group acquired a new subsidiary – AO “Avangard” (RU).

Myrtyle Ventures Ltd established a new subsidiary – European Lingerie Group AB (publ) (SE). A month later, in February 2018, Myrtyle Ventures Ltd made a shareholder contribution into the equity of European Lingerie Group AB (publ) by contributing all of the shares of AS European Lingerie Group.

The Group made an internal legal structure changes and the direct shareholding of Felina France S.a.r.l. (FR) was transferred to European Lingerie Group AB (publ). The change had no impact on the operations or ultimate shareholders of the Group.

Felina France S.a.r.l. acquired 100% of the shares in Dessus-Dessous S.A.S. (FR).

The Group finalised the first step of the legal structure simplification process, during which AS European Lingerie Brands merged with AS European Lingerie Group. The change had no impact on the operations or ultimate shareholders of the Group.

The Group fulfilled the second step of the above mentioned Group structure simplification, during which the shareholding in Felina Hungaria Kft (HU) was transferred to AS European Lingerie Group and the shareholdings in Felina GmbH (DE), Felina Polska Sp. (PL), Felina Espana S.L. (ES), Felina Portugal S.A. (PT), Felina ČR spol.S.r.o. (CZ), Felina Italia S.r.l. (IT) and Conturelle Inc. (US) were transferred to E|L|B GmbH. The changes had no impact on the operations or ultimate shareholders of the Group.

The Group completed the shareholder structure simplification, during which Myrtyle Ventures Ltd transferred its ownership in European Lingerie Group AB to its shareholders, Helike Holding OU and Bryum Capital Ltd. The change had no impact on the operations or ultimate shareholders of the Group.

European Lingerie Group AB acquired Yustyna Ltd (subsequently renamed Senselle Ltd) – a lingerie ready garment producer in Belarus, which will produce garments for brand Senselle by Felina – the newest addition to the Group’s brand portfolio, launched in the end of 2018.

European Lingerie Group AB established a new subsidiary Brafetch GmbH, which will be involved in the implementation of the omni-channel strategy for the Group. Later in March 2019, Brafetch established a 100% subsidiary in Latvia – SIA SistersOf production, which will be involved in photo, video and interactive content production for various Group companies as well as external clients. In June 2019 the Group decided to move Brafetch GmbH outside the Group and to search for external financing needed for completion of the project.

The Group finalised a further step in the legal structure simplification process, during which the legal form of AS European Lingerie Group (joint-stock company) was changed to SIA European Lingerie Group (limited liability company). The change had no impact on the operations or ultimate shareholders of the Group.

LSEZ Lauma Fabrics SIA established a new subsidiary LSEZ SIA Lauma Medical, which will take over the operations of the medical goods’ unit from LSEZ Lauma Fabrics SIA.

Within a restructuring process with Rietumu Banka, among other things, 30% of shares in SIA European Lingerie Group were disposed of by European Lingerie Group AB to “RB ELG” SIA (an SPV by Rietumu Banka) on June 1, 2021.