Pieno Zvaigzdes AB - Notification on material event

Resolutions of General Shareholders’ meeting of Pieno zvaigzdes AB

Vilnius, Lithuania, 2011-12-15 16:00 CET (GLOBE NEWSWIRE) -- Shareholders
meeting of Pieno Zvaigzdes AB took place on 15 December 2011 at 11.00 am (at
corporate headquarters at Perkunkiemio 3, Vilnius, Lithuania, company code 1246
65536, VAT code LT 246655314, data kept and stored at Legal Registrar) by the
decision by the company‘s Board. 

Agenda of Shareholders' meeting:

1.  Share buy back

Resolutions of Shareholders' meeting of Pieno zvaigzdes AB:

1.1 Buy back the shares of Pieno Zvaigzdes AB through the submarket of official
proposal at NASDAQ OMX AB Vilnius, in accordance to the rules governing this
market, without approving the circular at Securities Commission. 

a) The purpose of share buy back- to stabilize the Company's share price,
increase liquidity of shares and avoid a losses due to decreased share price; 

b) The maximum number of shares to be purchased - the nominal value of shares
to be purchased altogether with already purchased shares shall not exceed 1/10
of nominal capital; 

c) the period during which the joint stock company may acquire its own shares -
18 months; 

d) the minimum price of the shares to be purchased - 30% lower than last week`s
weighted arithmetic average of Company's share price at NASDAQ OMX Stock
Exchange Vilnius Central Market. The maximum price for the shares to be
purchased - 30% higher than last week`s weighted arithmetic average of
Company's share price at NASDAQ OMX Stock Exchange Vilnius Central Market. 

e) The order of selling own shares and the minimum selling price: the minimum
selling price is not less than 2/3 of the share purchasing price. 

In order to ensure equal opportunities for all shareholders to acquire shares
that were bought back, shares will be sold at Stock Exchange Central Market or
at auction, informing all shareholders about such auction timing and the order
by registered letter or through public announcement. 

1.2 According to the decision of this Annual General Shareholders' Meeting and
Article No. 54 of Joint Stock Companies Law of Republic of Lithuania, the
Company's CEO is authorised to take all decisions, related to share buy back
timing, determining price as well as decisions on acquired shares selling time,
price and order as well as to solve any other issues, which are not covered by
this authorisation. 



Audrius Statulevicius
CFO
(+370 5) 246 1419