LITGRID AB - Notification on material event

Resolutions Adopted on April 1, 2011 during Extraordinary General Shareholders Meeting of LITGRID AB

Vilnius, Lithuania, 2011-04-01 11:59 CEST (GLOBE NEWSWIRE) -- On April 1, 2011
during the extraordinary general shareholders meeting of LITGRID AB (prior to
March 14, 2011, the company name was LITGRID Turtas AB; legal entity code -
302564383, legal status - public company, registered address: A. Juozapavičiaus
g. 13, Vilnius city, Vilnius city municipality the Republic of Lithuania, data
about the company are collected and stored at Vilnius branch of VĮ Registrų
Centras, Division of Registry of Legal Entities), the following resolutions
were adopted: 

1. Regarding revocation of members of the Management Board.

RESOLUTION ADOPTED:

To revoke Mr. Vidmantas Grušas and Mr. Renatas Šumskis from members of the
Management Board of LITGRID AB (prior to March 14, 2011 the company name was
LITGRID Turtas AB). 

2. Regarding election of members of the Management Board.

RESOLUTION ADOPTED:

To elect Mr. Gintaras Labutis (personal code________, residing at_________) and
Mr. Valentinas Milaknis (personal code________, residing at_________) as
members of the Management Board of LITGRID AB (prior to March 14, 2011, the
company name was LITGRID Turtas AB) until the term of office of the current
Management Board of LITGRID AB (prior to March 14, 2011, the company name was
LITGRID Turtas AB). 

3. Regarding increasing of authorized capital of BALTPOOL UAB.

RESOLUTION ADOPTED:

To approve the resolutions of the Management Board of LITGRID AB (prior to
March 14, 2011 the company name was LITGRID Turtas AB) of March 9, 2011: 

  1. regarding co-participation of LITGRID AB (prior to March 14, 2011 the
     company name was LITGRID Turtas AB) and Klaipėdos Nafta AB in BATLPOOL UAB,
     provided that Klaipėdos Nafta AB will invest money in the authorized
     capital of BALTPOOL UAB by acquiring 33 per cent of BALTPOOL UAB shares;
  2. to increase the authorized capital of BALTPOOL UAB by LTL 156,627 (one
     hundred fifty-six thousand six hundred and twenty-seven litas) by issuing
     156,627 (one hundred fifty-six thousand six hundred and twenty-seven) new
     ordinary registered shares of BALTPOOL UAB of LTL of 1 (one litas) par
     value each, with the share issue price to be defined after valuation of the
     shares of BALTPOOL UAB, anticipating that the issue price per new share in
     BALTPOOL UAB will be equal to the value of a share in BALTPOOL UAB as
     determined by an independent valuator;
  3. to revoke the pre-emption right of LITGRID AB (prior to March 14, 2011 the
     company name was LITGRID Turtas AB) to acquire newly issued shares in
     BALTPOOL UAB anticipating that Klaipėdos Nafta AB will acquire all the
     newly issued shares in BALTPOOL UAB.




         Vilija Railaitė
         Head of Communications
         Phone +370 5278 2361
         Mobile +370 613 19977
         E-mail vilija.railaite@litgrid.eu