Vilniaus Baldai AB - Notification on material event

On the resolutions of the Board

Vilnius, Lithuania, 2013-06-14 15:06 CEST (GLOBE NEWSWIRE) -- 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