Klaipedos Baldai AB - Notification on material event

Resolutions adopted by the General Shareholders Meeting

Resolutions adopted by the General Shareholders Meeting, held on 28-04-2011:



1. The Supervisory Council's feedback (references) and proposals regarding the
Company's annual financial statements for the year 2010, Profit Distribution
Project and the Company's Annual Report have been approved. 

2. The Auditor's Report on the Company's annual financial statements for the
year 2010 have been approved. 

 3. The financial statements for the year 2010 have been approved.

 4. Appropriation (distribution) of profit of the year 2010 has been approved
as follows: 



    Items                                          Amount in                 
Amount in 

                                                      thousands LTL          
thousands EUR 



Undistributed result -

profit (loss) - at the end of

previous financial year                     38 705                    11 210



Net result of the financial

year - profit (loss)                             4 074                      1
180 



Distributable result -

profit (loss) -

at the end of the financial year          42 779                 12 390



Shareholders contributions

to cover losses                                    -                           -



Transfers from reserves                     1 085                 314



Distributable profit                            43 864               12 704



Distribution of profit:



- to legal reserves                                 -                -



- to other reserves(for

 acquisition of own shares)              1 000                   290



- dividends                                            -                       
 - 



- other                                                   -                    
   - 



Undistributed result -

profit (loss) - at the end of

the financial year                            42 864                 12 414



5. To elect audit company - “Ernst & Young Baltic” (company code 110878442), to
become AB "Klaipedos baldai" auditor, who will perform financial statements
audit for Years 2011 and 2012. Set an annual fee for the audit services 37 000
EUR plus VAT. To sign the contract with the company Ernst & Young Baltic, for
year 2011-2012 audit services with an option to extend the agreement to year
2013, conditional upon the company's AB “Klaipedos baldai” the general
shareholders meeting's decision. 



6. A decision with regard to the purchase of own shares has been approved:

 a) To purchase up to 10 percent of the Company's shares.

 b) The purpose of acquisition of own shares - to maintain and increase the
price of the Company's shares. 

 c) Period during which the Company may acquire own shares - 12 months from the
date of adoption of the decision. 

 d) To set the maximum price per share of own shares to be acquired - at 1.20
EUR (4.14 LTL), at the same time setting the minimum acquisition price per
share equal to the nominal value of a share, i.e. 0.290 EUR (1.00 LTL). 

 e) To commit the Board to organise the purchase of own shares, to determine
the procedure for purchase and sale of shares, time, number of shares and
price, as well as to perform other actions relating thereto in compliance with
the terms set in this resolution as well as in accordance with the requirements
established in the Republic of Lithuania Law on Companies.