Klaipedos Nafta AB - Notification on material event

Notice on the convened extraordinary general meeting of shareholders of Klaipėdos Nafta AB

We hereby inform you that on the initiative and by the decision of the Board of
AB Klaipėdos nafta, code 110648893, registered at Burių st. 19, Klaipėda
(hereinafter, the “Company”), an extraordinary general meeting of shareholders
of the Company was convened on 28 September 2012 at 1.00 p.m. The meeting was
held in the registered office of the Company at Burių st.19, Klaipėda, in the
premises of the administration of the Company. 

Agenda of the meeting:

1. On approval of the decision of the Board of the Company, according to which
it was decided to execute a reconstruction of park of dark oil products
(installation of two repositories each of 32.250 thou. of  sq. metres and of
technological pipelines, as well as of their equipment of electricity and
automation). 

2. On amendment of Articles of Association of the Company.

Decisions adopted:

1. On approval of the decision of the Board of the Company, according to which
it was decided to execute a reconstruction of park of dark oil products
(installation of two repositories each of 32.250 thou. of  sq. meters and of
technological pipelines, as well as of their equipment of electricity and
automation). 

“To approve the decision of the Board of the Company, according to which it was
decided to execute a reconstruction of park of dark oil products (installation
of two repositories each of 32.250 thou. of  sq. meters and of technological
pipelines, as well as of their equipment of electricity and automation) for a
total price not higher that LTL 28 mill., ensuring, that for this price the
contractors, having won the announced tenders shall execute all the works to
the Company, necessary for proper exploitation of the indicated repositories
and technological pipelines, including, without limitation, all the needed
works on assemble/ installation of the repositories and pipelines according to
the prepared and agreed project of the work, on installation of the equipment
of electricity and automation of the repositories and technological pipelines,
as well as necessary for proper formalisation/ management of the needed
documentation in connection therewith, and establishing, that the works
according to agreements with the contractors, having won the tenders for
purchase of the aforementioned works, have to be executed until 31 December
2013.” 

2. On amendment of the Articles of Association of the Company.

„2.1. To amend item 17.2 of the Articles of Association of the Company and to
restate it in the following way: 17.2. Before commencement of the office duties
of Board members and the Chairman of the Board, the Board member agreements may
be concluded with them, the conditions of which shall be established by the
Supervisory Council. Remuneration may be established and paid to the
independent Board members, based on the decision of the Supervisory Council,
which would not be dependable on the results of activities and perspectives of
the Company (other remuneration, than the tantems). If the Board member or the
Chairman of the Board is elected into the position of the General Manager or is
appointed as a Manager of the structural division of the Company, for such work
an employment contract shall be concluded with him. 

2.2. Taking into consideration the indicated amendment of the Articles of
Association of the Company, to approve the new wording of Articles of
Association of the Company (attached). To authorise (with a right to delegate)
the Manager of the Company to sign a new wording of the Articles of Association
of the Company and to provide it for registration with the Register of Legal
Persons.“ 



Enclosures:

1.  Articles of Association (with translation to English language).


         Mantas Bartuška, Finance Director, 8 46 391 763

Attachments:

Articles of association Klaipedos nafta EN 1.1.pdf