Zemaitijos Pienas - Notification on material event

Opinion of the Audit Committee on the Transaction With the Associated Party Has Been Received

 

Žemaitijos pienas, AB received the opinion of the Audit Committee on 24 September 2018 on the conclusion of the transaction between associated parties, the basis for the submission of the opinion was Article 37² of the Law on Companies of the Republic of Lithuania.

The subject of the assessment and opinion of the Audit Committee was the request of Klaipedos pienas, AB received on 6 September 2018 “On the amendment of the loan agreement No. 273/No. Con-14-2743 of 31 October 2014” asking for the replacement of the mortgage object: mortgaging of the shares of Žemaitijos pienas, AB (2,901,844 units) owned by Klaipėdos pienas, AB in favour of Žemaitijos pienas, AB instead of the land plot.

The  Audit Committee of the Company, after examining the request of Klaipedos pienas, AB, concluded that the amendment of the agreement by replacing the mortgage object would not violate the rights and interests of third parties, including the shareholders of Žemaitijos pienas, AB, and therefore it does not object to such transaction.

At the request of the shareholder submitted in writing or by electronic means, the company may forward a copy of this opinion to the shareholder within 3 days from the receipt of the request at the latest against a signature or by a registered letter or by electronic means, provided that the security of the information transmitted is ensured and the shareholder’s identity can be established.

The received opinion is also available for the shareholder at the company’s registered office at Sedos 35, Telšiai, during the company’s business hours. The opinion of the Audit Committee may be submitted if the request is received within 7 days from the moment of receipt of this opinion.

Lawyer
Gintaras Keliauskas

+ 370 444 22208