Dvarcioniu Keramika AB - Notification on material event

REgarding annoucement made by BNS and VZ.LT on29-07-2013

Vilnius, Lithuania, 2013-07-30 15:45 CEST (GLOBE NEWSWIRE) -- 

The Board and Management of Dvarcioniu keramika AB are concerned about public
statements made by Swedbank on vz.lt portal regarding the Company's plans. 

“Dvarcioniu keramika AB is a listed company; therefore public advance comment
by one of its creditors about his plans not to support the upcoming
restructuring of the Company may inevitably impact the value of the company's
stock. The Company's Management consulted the lawyers for legal conclusion
which actions should be taken in case one creditor publicly misleads the market
about the amount of the claim he holds (significantly increasing it) and gives
his advance opinion about disapproval of the Company's restructuring. It should
be noted that Swedbank stating its intention to disapprove the Company's plans
to apply to court for initiating a restructuring case misinforms society, since
no credits' consent is needed for initiating a restructuring case. According to
the Companies Restructuring Law, creditors must approve or disapprove
restructuring plan, which serves as the basis for successful restructuring.
Restructuring plan will be submitted to creditors for approval once it is
completely finished, provided the court initiates a restructuring case. Thus,
it looks that Swedbank's acts should be regarded as a potential attempt to
destroy a Lithuanian company that has been in business for 125 years and to
take over its mortgaged property, the company has been successfully opposing
these Swedbank's attempts in court for over two years by now", commented
Managing Director and Board member of Dvarcioniu keramika AB Liudmila Suboč. 







General Director Liudmila Suboč

tel. +370~5-231 70 21




         Liudmila Suboč 8~5~2317021 l.suboc@keramika.lt