Vilniaus Baldai
Notification on material event

On the resolutions of the Board

Vilnius, Lithuania, 2013-06-14 15:06 CEST -- On June 14, 2013 the Board of the public joint - stock company „Vilniaus baldai“ (hereinafter – the Company) received a proposal from the Company’s shareholder - the public joint stock company „Invalda LT“, holding 39,352 percent of votes in the Company‘s General Shareholders Meeting - to pay dividends for the period shorter than a financial year (as of June 30, 2013). For this purpose the shareholder requested not later than on September 30, 2013 to hold a General Shareholders Meeting of the Company, which would have on its agenda the issue of approval of the interim financial statements (as of June 30, 2013) and payment of dividends for the period shorter than a financial year. Taking into account the above proposal the Company’s Board adopted the following resolutions:

1. To oblige the Company’s General Manager to provide the Board with the interim (as of June 30, 2013) financial statements of the Company not later than on July 31, 2013.
2. To mandate the Company‘s General Manager on the basis of the audit agreement (hereinafter – Audit agreement) concluded between the Company and its auditor „PricewaterhouseCoopers“, UAB and taking into account the provisions of the Law on Companies of the Republic of Lithuania, regulating the order of payment of dividends for the period shorter than a financial year, to execute a supplement to the Audit agreement on the audit of interim financial statements of the Company (as of June 30, 2013) for the purpose of payment of dividends for the period shorter than a financial year.
3. During the period ending on September 30, 2013 to hold the Extraordinary General Shareholders Meeting which would have on its agenda the issues proposed by the shareholder:

1. On the approval of the interim financial statements prepared for the purpose of taking a resolution on payment of dividends for the period shorter than a financial year (as of June 30, 2013).

The draft resolution proposed by the shareholder who initiated the convocation of the Extraordinary General Shareholders Meeting:
 
1. To approve the interim financial statements prepared for the purpose of taking a resolution on payment of dividends for the period shorter than a financial year (as of June 30, 2013).

2. On the payment of dividends for the period shorter than a financial year (as June 30, 2013).

The draft resolution proposed by the shareholder who initiated the convocation of the Extraordinary General Shareholders Meeting:
    
2. To allocate all profit as of the Company as of June 30, 2013 for the payment of dividends provided the dividends per share will be rounded down to the nearest tenth of litas, leaving the remainder in unallocated profit.

4. To take a decision on the particular date, place and agenda as well as final draft resolutions of the Extraordinary General Shareholders Meeting within 2 (two) working days from receiving of the audit report on the interim financial statements made for the purpose of taking a resolution on payment of dividends for the period shorter than a financial year (as of June 30, 2013), but not later than on September 5, 2013.





 

         Additional information:
         Chief Financial Officer
         Ausra Kibirkstiene
         +370 5 2525720