Imoniu grupe ALITA, AB - Notification on material event

Regarding the resolution of the Securities Commission of the Republic of Lithuania

Alytus, Lithuania, 2011-11-09 10:43 CET (GLOBE NEWSWIRE) -- The Securities
Commission (hereinafter - Commission) considered the law violation case  No.
2K-14 in all its aspects in the closed sitting due to the fact that Company
group „ALITA“ AB (hereinafter - Company) did not carry out the Commission
orders fully and the fine amounted to 10,000 LTL because the Company violated
Item 4 of  Part 2 of Article 42 of the Law on Securities and obliged the
Company to carry out the obligation of the Commission resolution No. 2K-5,
January 6, 2011, in preparing the annual financial reports for the year of
2011, i.e. to correct the financial reports in retrospect according to 16 TAS
„Immovable property, equipment and machines“ and 36 TAS „The value decrease of
the property“, because: 

(a)The Financial reports of 2009 and the comparative data of 2009 given in the
financial reports of Company group „ALITA“ AB of 2010 do not meet the
directions of Article 29 of 16 TAS „Immovable property, equipment and machines“
and Article 9 of 36 TAS „The value decrease of the property“, 

(b) the directions of Article 60 of 1 TAS „The presentation of the Financial 
Reports“ - i.e. that the short-term and long-term obligations of the Company
Group ALITA AB are not treated according to TAS requirements in the
consolidated financial reports and in the financial reports of the patronizing
companies. 

The Company Management turns attention to, because they think:

The long term tangible asset (immovable property, equipment and machines) was
accounted correctly, for December 31, 2009, not violating the requirement of 16
TAS, according to the requirements of Articles 31 and 32, indicating the actual
value according to the evaluation of the assets, but the Company did not
dislose fully, did not show in the remark part „The immovable assets, equipment
and machines“ of the financial report of 2009 that the property in the
financial accounting is evaluated according to the directions of  Articles 31
and 32 of 16 TAS, and the wording in the financial reports of 2010 is not
exact. That‘s why the Company will make the wording of the accounting policy
more exact in the remarks preparing the annual financial report of 2011. 

The requirements of 1 TAS are connected with the circumstances that the
Company, preparing the financial reports of 2009, could not evaluate exactly
because the exact position of the bank in changing the conditions of the credit
was not clear. The Company informed about the negotiations with the bank in
Stock Exchange Releases of December 9, 2010 and December 22, 2010. Furthermore,
the Management thinks that this condition and its possible influence on the
financial reports are also presented the independent auditor conslusion of the
consolidated financial reports of  2009 and in the finacial reports of the
patronizing company of 2009, and in the financial reports of   2009 properly. 

The Company, preparing the financial reports of 2011, will do the additonal
evaluation of the influence of these circumstances on the financial reports of
2009 and correct the financial reports   of 2009 retrospectively. 

The Commission resolution can be appealed in a month from the day of the
receipt in the Vilnius District Administrative Court. 






         Additional information is provided by the General Director Paulius
Kibiša, tel.: + 370  315 57243.