The Board convokes shareholders’ meeting and proposes to pay 0.20 litas dividend per share
On 13 March 2013 the Board of TEO LT, AB (hereinafter TEO or “the Company”) decided:
- To approve the draft of the audited annual consolidated financial statements of the Company for the year 2012, prepared according to International Financial Reporting Standards, and to propose to the Company’s Annual General Meeting of Shareholders to approve the draft of the Company’s annual consolidated financial statements for the year 2012.
Audited financial results of TEO Group for the year 2012 are the same as on 30 January 2013 announced results for the twelve months of 2012: consolidated TEO Group revenue for the year 2012 amounted to LTL 760,174 thousand (EUR 220,162 thousand) and profit for the period was LTL 159,067 thousand (EUR 46,069 thousand).
- To approve the Company’s Consolidated Annual Report for the year 2012, prepared by the Company and assessed by the auditors, and to present the Company’s Consolidated Annual Report for information to the Company’s Annual General Meeting of Shareholders.
- To approve the draft of the Company’s profit allocation for the year 2012 and to propose for the Annual General Meeting of Shareholders to allocate the profit according to the draft of the profit allocation: from the Company’s distributable profit of LTL 160,668 thousand (EUR 46,533 thousand) to allocate LTL 155,364 thousand (EUR 44,997 thousand) for the dividend payment for the year 2012 or LTL 0.20 (EUR 0.058) dividend per share. For annual payments (tantiemes) to six members of the Board for the year 2012 to allocate LTL 324 thousand (EUR 93.8 thousand), i.e. LTL 54 thousand (EUR 15.6 thousand) per one member of the Board.
- To convoke the Annual General Meeting of Shareholders in TEO LT, AB headquarters, at room on 23 floor, Lvovo str. 25, Vilnius, Lithuania, at 13.00 on 25 April 2013, and to propose to the Annual General Meeting of Shareholders’ the following draft agenda:
1. Information of the Company’s auditor.
2. Approval of the annual consolidated financial statements of the Company for the year 2012 and presentation of the consolidated annual report of the Company for the year 2012.
3. Allocation of the profit of the Company of 2012.
4. Recall of the Company’s Board members.
5. Election of the Company’s Board members.
6. Regarding implementation of decisions.
ENCL.:
- Drafts of TEO LT, AB Financial Statements, Consolidated Annual and Independent Auditor’s Reports for the year ended 31 December 2012.
- Presentation of TEO LT, AB results for the year 2012.
Egle Gudelyte-Harvey,
Director of Corporate Administration and Legal Affairs Unit,
tel. +370 5 236 7292.
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