Panevezio Statybos Trestas - Notification on material event

Resolutions of Extraordinary General Meeting of Shareholders

The following resolutions have been adopted at the Extraordinary General
Meeting of Shareholders of Panevėžio statybos trestas AB taken place on 27
October 2014: 

1.Selection of an audit company and pricing of audit services.

1.1.To select KPMG Baltics UAB as an auditor to carry out the audit of the
financial statements and annual reports of Panevėžio statybos trestas AB and
the companies of Panevėžio statybos trestas AB Group for the year 2014. To pay
the amount not exceeding 138 000 (one hundred thirty eight thousand) Litas, VAT
excluded, for the audit/review of the financial statements and annual reports
of all companies of Panevėžio statybos trestas AB Group for the year 2014,
except the companies of Panevėžio statybos trestas AB Group located in Latvia,
Poland and Sweden, Baltlitstroj OOO located in Kaliningrad Region and
Territorija OOO located in Vologda Region, both in the Russian Federation. From
this total to pay the amount not exceeding 77 000 (seventy seven thousand)
Litas, VAT excluded, for the audit of the financial statements and annual
report of Panevėžio statybos trestas AB for the year 2014. 

1.2.The audit companies for carrying out the audit in the companies of
Panevėžio statybos trestas AB Group located outside the European Union
following the legal acts regulating accounting and audit in the countries
thereof, except the companies listed in item 1.3. hereinbelow, to be selected
at the discretion of the General Meetings of Shareholders at these companies.
Payment for these audit services is not included in the payment for the audit
of the financial statements and annual reports of the companies of Panevėžio
statybos trestas AB Group, specified in item 1.1. hereinabove. 

1.3.To recommend the Managing Director of Panevėžio statybos trestas AB by
means of participation at the meetings of members of Baltlitstroj OOO located
in Kaliningrad Region, Russian Federation, and belonging to Panevėžio statybos
trestas AB Group, to ensure selection of Оценка Консультации Аудит OOO or
Aудиторская фирма Балтаудит ЗАО, as an auditor, which would carry out the audit
following the legal acts regulating Russian audit and accounting, and provide
KPMG Baltics UAB with the auditor's opinion on the financial statement package
to be submitted to the parent company for consolidation purposes. 

1.4.To provide for the possibility in one or both companies of Panevėžio
statybos trestas AB Group, Baltlitstroj OOO located in Kaliningrad Region and
Territorija OOO located in Vologda Region, the Russian Federation, to select an
auditor to carry out the audit following the legal acts regulating Russian
audit and accounting at the discretion of the General Meeting of Shareholders
and provide KPMG Baltics UAB with the auditor's opinion on the financial
statement package to be submitted to the parent company for consolidation
purposes. In that case the first amount specified in item 1.1. hereinabove
shall be changed as follows: increased by 22 000 (twenty two thousand) Litas,
VAT excluded (due to Baltlitstroj OOO) and by 35 000 (thirty five thousand)
Litas, VAT excluded (due to Territorija OOO). 

1.5.To delegate Dalius Gesevičius, the Managing Director of Panevėžio statybos
trestas AB: 

      1.5.1.To sign the contract with KPMG Baltics UAB for audit carrying out
upon a written consent by Artūras Bučas; 

      1.5.2.To initiate the General Meetings of Shareholders at the companies
of Panevėžio statybos trestas AB Group and by means of participation at the
meetings thereof to ensure selection of the relevant auditor, and that these
companies and their subsidiary companies follow the procedure defined in item
1.6. hereinbelow. 

1.6.The contracts with KPMG Baltics UAB for the provision of the audit/review
services at the subsidiary companies of Panevėžio statybos trestas AB and the
subsidiary companies of these companies shall be signed by the Directors of the
companies thereof upon a written consent by Artūras Bučas, the Board Member of
Panevėžio statybos trestas AB. The copies of the contracts and copies of the
audit reports shall be provided to the parent company within seven days from
their signature. 



For more information contact:

Dalius Gesevičius

Managing Director

Panevėžio statybos trestas AB

Phone: (+370 45) 505 503