2016-07-25 08:41:50 CEST

2016-07-25 08:41:50 CEST


BIRTINGARSKYLDAR UPPLÝSNINGAR

Dvarcioniu Keramika - Notification on material event

Regarding supplementation of the resolutions of extraordinary meeting of shareholders to be held on 25 July 2016 


Vilnius, Lithuania, 2016-07-25 08:40 CEST (GLOBE NEWSWIRE) -- 



Agenda:

1.            Regarding the Company's restructuring;

2.            Regarding increase of authorised capital of the Company;

3.            Regarding withdrawal of the pre-emptive rights of the Company’s
shareholders to acquire newly issued shares of the Company; granting of the
right to acquire newly issued shares of the Company; 

4.            Regarding approval of the new wording of the Bylaws of the
Company. 

I.             Resolutions

1. Regarding the Company's restructuring

1.1. To restructure AB “Dvarčionių keramika”, company code 110628481,
registered address: Keramikų str. 2, Vilnius, Vilnius City Municipality. 

1.2. To approve the outline of restructuring plan of AB “Dvarčionių keramika”
drawn at the initiative of the Company's Board (attached). 

1.3. To assent candidate to the restructuring administrator of AB “Dvarčionių
keramika” suggested by the Company's Board, i.e. UAB Restrus (company code
145397810, order number in the List JA1, date of inclusion into the List 03
September 2001, registered at Konstitucijos str. 12-322, LT-09308 Vilnius). 

1.4. To commission Managing Director of the Company Liudmila Suboč on the terms
and conditions established in the Companies Restructuring Law to make a claim
to the court for initiating restructuring case for AB “Dvarčionių keramika”. 

1.5. To commission Managing Director of the Company Liudmila Suboč to suggest
to the court to determine the administration expenses estimate of EUR
10,000.00, excl. VAT, for AB “Dvarčionių keramika” for the period from the day
of entry into effect of the court decision regarding initiating company's
restructuring case until the day of entry into force of the decision on
approval of the company's restructuring plan. 

1.6. To commission Managing Director Liudmila Suboč to suggest to the court to
establish six months period for preparation of a restructuring plan for AB
“Dvarčionių keramika” and its submission to the court. 

2. Regarding increase of authorised capital of the Company

2.1. To increase the authorized capital of AB “Dvarčionių keramika”, company
code 110628481, registered address: Keramikų str. 2, Vilnius, Vilnius City
Municipality, by EUR 3,500,000.14, i. e. from EUR 5,745,166.80 to EUR
9,245,166.94. The authorized capital of the Company shall be increased by
additional monetary contributions equal to EUR 3,500,000.14. 

2.2. To set that authorized capital of AB “Dvarčionių keramika” is being
increased by issuing 6,034,483 new ordinary registered shares with par value of
0.58 EUR each (the “New Shares”). Issue price of each New Share is equal to EUR
0.58. Total issue price of all the New Shares is equal to EUR 3,500,000.14. 

2.3. To set that the decision of shareholders of AB “Dvarčionių keramika” to
increase the authorized capital of AB “Dvarčionių keramika” by the amount of
EUR 3,500,000.14 shall automatically become null and void in case, until full
payment for the New Shares, (i) a bankruptcy case of AB “Dvarčionių keramika”
is instituted by an effective decision of a court or (ii) restructuring plan of
AB “Dvarčionių keramika” fails to be approved in timely manner in the case of
restructuring of AB “Dvarčionių keramika”. In case of abovementioned
termination of the decision to increase the authorized capital of AB
“Dvarčionių keramika”, all money paid for the respective new shares shall be
immediately returned.” 

3. Regarding withdrawal of the pre-emptive rights of the Company’s shareholders
to acquire newly issued shares of the Company; granting of the right to acquire
newly issued shares of the Company 

3.1. Taking into account Article 57(5) of the Law on Companies of the Republic
of Lithuania and with the aims of achieving the goals indicated in the outline
of restructuring plan of AB “Dvarčionių keramika” as well as improving the
financial standing of AB “Dvarčionių keramika”, to withdraw the rights of first
refusal of all shareholders of AB “Dvarčionių keramika” to acquire newly issued
shares and set that all 6,034,483 newly issued ordinary registered shares of
the AB “Dvarčionių keramika” shall be acquired for EUR 3,500,000.14 by an
individual entrepreneurship incorporated and operating under the laws of the
Russian Federation IP Michele Pulpito, legal entity code 314774626601121,
registered office at Centralnaja str. 18/51, Pervomajskoe, Moscow, Russian
Federation. 

3.2. To set that Share Subscription Agreement of the New Shares must be
concluded in 1 month following adoption of the shareholders’ decision to
increase authorized capital of AB “Dvarčionių keramika”. All the New Shares
have to be paid up in 12 months following subscription of the shares – part of
the price of New Shares equal to EUR 250,000 shall be transferred to an escrow
account opened by a notary public in 5 business days following coming into
force of a court’s decision to start restructuring case of AB “Dvarčionių
keramika” and the remaining part of price of the New Shares shall be paid in 15
business days following adoption of a court’s decision to approve a
restructuring plan of AB “Dvarčionių keramika”. Detailed terms and conditions
of settlement for the New Shares shall be indicated in Share Subscription
Agreement.” 

4. Regarding approval of the new wording of the Bylaws of the Company:

4.1. With regard to the adopted decision to increase the authorized capital of
AB “Dvarčionių keramika”, to amend paragraph 3.1 of Articles of Association of
AB “Dvarčionių keramika” and to read it as follows: 3.1. The Authorized capital
of the Company consists of contributions of shareholders and is 9,245,166.94
EUR. It is divided into 15,939,943 ordinary registered shares with nominal
value of EUR 0.58. 

Also, to change the parts of Articles of Association of AB “Dvarčionių
keramika” that have to be changed in relation to decrease of number of Board
members of AB “Dvarčionių keramika” to 4. 

4.2. With regard to the resolution above, to amend the Articles of Association
of AB “Dvarčionių keramika” and to approve their new wording (attached). 

4.3. To authorize General Director of Company Liudmila Suboč to solely sign the
new wording of the Articles of Association as well as to prepare and sign any
documents, requests, statements, forms, submit them or withdraw and perform any
action in the competent authority, which are required by the company for the
new wording of Articles of Association of the Company to be registered with the
Register of Legal Entities of the Republic of Lithuania. 

Attachments:

  1. Outline of restructuring plan;
  2. New wording of Articles of Association of the Company;

3.      Notice of the Board on revocation of pre-emptive rights of shareholders.

General Director Liudmila Suboč

Tel. +370 5 2317021


         Ludmila Suboč +37052317021   l.suboc@keramika.lt