Klaipedos Nafta AB - Notification on material event

AB Klaipėdos nafta has concluded the contract for Engineering and Construction Works of Port Infrastructure with Suprastructure

On 18 March 2013 AB Klaipėdos nafta (hereinafter, the Company) concluded the
Contract for Engineering and Construction Works of Port Infrastructure with
Suprastructure (hereinafter, the Contract) with the winner of the international
tender “Procurement of Engineering and Construction Works of Port
Infrastructure (Jetty) with Suprastructure (Equipment) of Liquefied Natural Gas
Terminal” with the Akciju sabiedriba (transl. - stock company) “BMGS” regarding
engineering and construction works (hereinafter, the Works) of port
infrastructure with suprastructure of liquefied natural gas terminal. The
Company notified on the winner of the Works on 1 March 2013, by announcing the
notifications on material event. 

The main conditions of the Contract inter alia include the following:

(i) The total fixed price for all the works under the Contract shall not exceed
27 190 000 EUR (twenty seven million one hundred ninety thousand euro) without
VAT (93 881 632 LTL without VAT). This fixed price can increase only in the
exclusive cases provided for in the Contract. AB Klaipėdos nafta shall be
paying the indicated fixed sum only for the actual works performed under the
Contract. 

(ii) All the works under the Contract shall be finished till 1 October 2014.
The performance terms may only be extended in the exclusive cases set forth in
the Contract. 

The Agreement shall enter into force upon the approval of the general
shareholder meeting of Klaipėdos nafta, AB, as provided for in Article 16.10 of
the Articles of Association of Klaipėdos nafta AB. 




         Mantas Bartuška, Director of the Finance and Administration
Department, +370 46 391 763