LITGRID turtas AB - Notification on material event

Extraordinary Meeting of LITGRID Turtas AB Shareholders Convened

Vilnius, Lithuania, 2010-12-31 06:53 CET (GLOBE NEWSWIRE) -- At the initiative
and by resolution of the Management Board of LITGRID Turtas AB (company code
302564383, registered address A. Juozapavičiaus g. 13, Vilnius), an
extraordinary general shareholders meeting of LITGRID Turtas AB is convened on
January 24, 2011. The meeting will be held at the following address: A.
Juozapavičiaus g. 13, Vilnius, Conference Hall. Starting time - 10:00 AM,
January 24, 1011. Starting time of shareholders registration: 9:30 AM, January
24, 2011. Finishing time of shareholders registration: 9:55 AM, January 24,
2011. 

The established date for the headcount of the shareholders of the extraordinary
general shareholders meeting is January 17, 2011. Only such persons shall have
a right to participate and vote at the extraordinary general shareholders
meeting, who by the end of the day of headcount of the shareholders of the
extraordinary general shareholders meeting are shareholders of LITGRID Turtas
AB. 

The rights accounting day of the extraordinary general shareholders meeting
shall be February 7, 2011. The property rights of the shareholders, enforced in
Items 1-4 of Part 1 of Article 15 of the Law of the Republic of Lithuania on
Joint-stock Companies, shall be held by such persons who by the end of the
rights accounting day of the meeting are shareholders of the company. 

Agenda of the meeting:

1. Regarding reorganization of LITGRID Turtas AB and LITGRID AB by way of
merger. 

The following draft resolutions of the agenda issue are proposed:

“1. Following the Civil Code of the Republic of Lithuania, Article 2.97, Part 3
and reorganization conditions of LITGRID Turtas AB and LITGRID AB (company,
established under Laws of the Republic of Lithuania, registered address A.
Juozapavičiaus g. 13, Vilnius, the Republic of Lithuania, legal entity code
302449655, VAT code LT100005013315, data of the company collected and stored at
the Register of Legal Entities of the Republic of Lithuania), to reorganize
LITGRID Turtas AB and LITGRID AB by way of merger, merging LITGRID AB, which,
subsequent to the reorganization, will terminate its activity as a legal
entity, with LITGRID Turtas AB, which, subsequent to the reorganization, will
continue its activity and to which, subsequent to the reorganization, will be
transferred all assets, rights and duties of LITGRID AB. 

2.                   To approve the reorganization conditions of LITGRID Turtas
AB and LITGRID AB, following which, during the reorganization of LITGRID Turtas
AB and LITGRID AB by way of merger, LITGRID AB, which, subsequent to the
reorganization, will terminate its activity as a legal entity, will be merged
into LITGRID Turtas AB, which, subsequent to the reorganization, will continue
its activity and to which, subsequent to the reorganization, will be
transferred all assets, rights and duties (attached) of LITGRID AB. 

3.                   To approve the revised articles of association (attached)
of LITGRID Turtas AB, which subsequent to the reorganization will continue its
activity. To authorize Mr. Virgilijus Poderys to sign the new revised articles
of association of LITGRID Turtas AB. 

4.                   To authorize the Chief Executive Officer of LITGRID Turtas
AB, under requirements established by legal acts, to submit to the notary,
Register of Legal Entities of the Republic of Lithuania, National Securities
Commission and other subjects, reorganization conditions of LITGRID Turtas AB
and LITGRID AB as well as other requisite information and documents, as well as
to perform, under procedure established by legal acts, all necessary actions
regarding the registration of the revised articles of association of LITGRID
Turtas AB in the Register of Legal Entities of the Republic of Lithuania, also
to perform all other actions, related to the implementation of this resolution
and implementation of the reorganization of LITGRID Turtas AB and LITGRID AB,
by endowing the Chief Executive Officer of LITGRID AB with a right to
re-authorize other persons for the performance of actions indicated in this
resolution at full scope.” 

Documents, related to the meeting agenda, draft resolutions, general voting
ballot, will be made available for the shareholders from December 31, 2010, at
the premises of LITGRID Turtas AB with the following address:A. Juozapavičiaus
g. 13, Vilnius, room 137, during the office hours (7:30 AM - 11:30 AM and 12:15
PM - 4:30 PM, Fridays - 7:30 AM - 11:30 AM and 12:15 PM - 3:15 PM). 

These documents and other information, which is publishable under the legal
acts, related to the shareholders right to propose amendments to the agenda of
the meeting, propose draft resolutions to the agenda of the meeting and by
right of shareholders to propose in advance issues, related to issues of the
agenda of the meeting, from December 31, 2010 will also be published at the
company website www.litgrid.eu. 

If the shareholder, holding a right of vote or its duly authorized
representative demands so in writing, the company shall prepare and not later
than 10 days prior to the general shareholders meeting shall send a general
voting ballot by registered mail or shall present it in person and confirm the
receipt by signature. The general voting ballot is also published at the
company website www.litgrid.eu. The filled and signed general voting ballot and
the document, confirming the right of vote, may be presented to the company by
registered mail or handed over directly at the premises of the company with the
address A. Juozapavičiaus g. 13, Vilnius, not later than by the end of the
office hours (3:15 PM) of January 21, 2011. 

The company retains the right not to register the advance vote of the
shareholder or its authorized person, if its presented general voting ballot is
not compliant with requirements, set forth in Parts 3 and 4, Article 30 of the
Law of the Republic of Lithuania on Companies, its presentation is overdue or
it is filled in the manner whereby ascertaining of the actual will of the
shareholder is impossible. 

The persons at the general shareholders meeting shall have a right to vote by
power of attorney. The power of attorney is deemed a written document, issued
by one person (issuer of power of attorney) to another person (the recipient of
power of attorney) to represent the issuer of power of attorney while
contacting third persons. The power of attorney on behalf of a physical person
to perform actions, related to legal persons, except for cases prescribed by
law, allowing issuance of the power of attorney in another form, shall be
signed by the notary. The authorized persons shall have a document, confirming
the identity of the person and the power of attorney, approved as prescribed by
law, which shall be presented not later than by the finishing time of the
shareholders registration of the general shareholders meeting. The authorized
person has the same rights at the general shareholders meeting as would be had
by the shareholder who is being represented. 

The shareholders, holding a right to participate at the general shareholders
meeting, shall have a right to authorize by means of electronic communications
a physical or legal entity to take part or cast vote on their behalf at the
general shareholders meeting. Such authorization shall not require notary
approval. The company shall deem valid the authorization issued by electronic
means only provided that the shareholder signs it by an electronic signature,
generated by a secure signature-generating software and attested qualified
certificate, valid within the Republic of Lithuania, i.e. the security of the
transmitted information is ensured and a possibility of identification of the
shareholder is provided. The shareholder shall inform in writing the company
about such authorization, issued by electronic means, by sending such
notification by email at info@litgrid.eu not later than end of office hours
(3:15 PM) of January 21, 2011. 

At the general shareholders meeting there will be no participation or voting by
electronic means. 


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