Changes regarding informing the market about court proceedingsAlytus, Lithuania, 2012-06-06 16:13 CEST --
Taking into consideration that the company group “ALITA” (hereinafter, the “Company”) is involved in several similar court proceedings related to Plass Investments Limited, it has become evident that notifying on each separate action, decision or appeal may not be clear to the investors (e.g. to understand which specific case a notification is related to, its significance and how it relates to the status of other related ongoing cases). The Company has therefore decided to provide the market with information on the cases related to Plass Investments Limited which it is currently involved in and may be initiated in the future (hereinafter, the “Cases”), as described below:
(i) the Company will notify on material Cases in the interim financial statements in the section “Legal events” indicating the main Cases, their status, main decisions adopted by the relevant courts. This notification procedure was commenced by the Company as from announcement of the financial results of the Company for the 1st quarter of 2012;
(ii) initiation of new material cases by or against the Company not related to the Cases as per above – in addition to notifying thereof in the interim financial statements – will be announced as a material event, if deemed to qualify as such event;
(iii) on condition of a final and binding decision of the court on the merits in any of the cases initiated by or against the Company (including the indicated Cases related to Plass Investments Limited) and if such decision is deemed to qualify as a material event, the Company will notify such a material event additionally (i. e. not only in the interim financial statements). Furthermore, the Company will make a notification if other particular circumstances in a case deem to qualify as a material event and require making additional notification.
Additional information is provided by the General Director Paulius Kibiša, phone number + 370 315 57243
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