Kauno Energija - Notification on material event

Resolutions of the General Meeting of Shareholders of AB Kauno Energija

The General Meeting of Shareholders of AB Kauno Energija has been held on the
28th of April, 2016. 6 shareholders owning a 42 091 473 ordinary registered
shares of the Company that amounts to 98.34 % of the votes, took part in it.
The following resolutions were taken at the General Meeting of Shareholders: 

  1. Approval of Consolidated and Company‘s financial statements of the year
2015, prepared according to the International financial reporting standards
accredited to use in European Union, presented along with consolidated Annual
Report and Conclusion of independent auditor. 

  The resolution – to approve the audited AB Kauno Energija consolidated and
Company‘s financial statements of the year 2015, prepared according to the
International financial reporting standards accredited to use in European Union
(enclosed). 

  2. Allocation of AB Kauno Energija profit (loss) of the year 2015.

  The resolution – to allocate AB Kauno Energija profit (loss) of the year 2015
according to the profit (loss) allocation project provided to the General
Meeting of Shareholders by the Management Board of AB Kauno Energija. 



 No.                                 Items                                 Sum, 
                                                                           Eur  
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   1.  Profit (loss) of the previous financial year brought forward at         0
        the end of the reporting year                                           
--------------------------------------------------------------------------------
   2.  Net profit (loss) of the reporting financial year                   4 528
                                                                             015
--------------------------------------------------------------------------------
   3.  Profit (loss) not recognised in the comprehensive income                0
        statement                                                               
--------------------------------------------------------------------------------
   4.  Transfers from reserves                                               712
                                                                             961
--------------------------------------------------------------------------------
 4.1.  Transfers from other reserves                                         712
                                                                             961
--------------------------------------------------------------------------------
   5.  Shareholders' contributions for covering the losses                     0
--------------------------------------------------------------------------------
   6.  Total profit (loss) to be allocated                                 5 240
                                                                             976
--------------------------------------------------------------------------------
   7.  Profit to be allocated to legal reserve                               226
                                                                             401
--------------------------------------------------------------------------------
   8.  Profit to be allocated to reserves for investment into own shares       0
--------------------------------------------------------------------------------
   9.  Profit to be allocated to other reserves:                           2 977
                                                                             485
--------------------------------------------------------------------------------
 9.1.  for implementation of investments approved in AB Kauno Energija       121
        Investment plan for the year 2016                                    827
--------------------------------------------------------------------------------
 9.2.  for repayment of long term loans approved in AB Kauno Energija      2 435
        Investment plan for the year 2016                                    658
--------------------------------------------------------------------------------
 9.3.  for the maintenance of heat units                                  20 000
--------------------------------------------------------------------------------
 9.4.  for development and / or installation of communications in            350
        Jėgainės str., Kaunas, which would be disposed as a support to       000
        Kaunas city municipality                                                
--------------------------------------------------------------------------------
 9.5.  for sponsorship                                                    50 000
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  10.  Profit to be allocated for dividends (0,01 Eur/share)               1 797
                                                                             690
      --------------------------------------------------------------------------
  11.  Profit to be allocated for annual disbursements (tantiemes) for       239
        the members of the Supervisory Board, Management Board, bonuses      400
        for employees and other purposes                                        
--------------------------------------------------------------------------------
11.1.  Profit to be allocated for annual disbursements (tantiemes) for    32 400
        the members of the Management Board                                     
--------------------------------------------------------------------------------
11.2.  Profit to be allocated for bonuses for employees                      207
                                                                             000
--------------------------------------------------------------------------------
  12.  Profit (loss) at the end of the reporting financial year brought        0
        forward to the next financial year                                      
--------------------------------------------------------------------------------



3. Elections of Audit Company and determination of terms of reimbursement for
audit services. 

  The resolution:

1. To elect UAB Deloitte Lietuva (code 111525235) for audit of AB Kauno
Energija consolidated and company’s financial statements of the year 2016
(hereinafter – audit) and audit of expenditures subsumed for regulated
activities and covered from the income of regulated activities. 

2. To determine that the price for services of audit of AB Kauno Energija
consolidated and company’s financial statements of the year 2016 is EUR
27,000.00 plus VAT. Term of payment is 30 calendar days from the date of
receiving of VAT invoices. 

3. To determine that the price for services of audit of AB Kauno Energija audit
of expenditures subsumed to regulated activities and covered from the income of
regulated activities of the year 2016 is EUR 4,500.00 plus VAT. Term of payment
is 30 calendar days from the date of receiving of VAT invoices. 

4. To determine that the price for services of review of AB Kauno Energija
subsidiary’s UAB Kauno Energija NT financial statements of the year 2016 is EUR
4,500.00 plus VAT. Term of payment is 30 calendar days from the date of
receiving of VAT invoices. 

  4. Changes in Statutes of AB Kauno Energija regarding decrease in number of
members of the Board from 7 (seven) to 5 (five). 

  The resolution – to change Statutes of AB Kauno Energija by putting them in
new edition and to authorise General Manager of AB Kauno Energija Mr. Rimantas
Bakas for signing the text of changed AB Kauno Energija statutes (enclosed). 

  5. Approval of standard form of Activity agreement of a member of the Board
of municipality controlled company. 

  The resolution – to approve standard form of Activity agreement of a member
of the Board of municipality controlled company (enclosed). 

  6. Changes in Statutes of AB Kauno Energija regarding remuneration for
activity of members of the Board. 

  The resolution – to change Statutes of AB Kauno Energija stating them in new
edition and to authorise General Manager of AB Kauno Energija Mr. Rimantas
Bakas sign the text of changed Statutes of AB Kauno Energija (enclosed). 


         Loreta Miliauskienė, Head of the Economics and Planning Department,
tel. +370 37 305 855

Attachments:

Activity agreement.pdf

FAR_2015_En.pdf

KE statutes_project.pdf