LITGRID - General meeting of shareholders

Decisions taken in the extraordinary general meeting of the shareholders of LITGRID AB

The following decisions were adopted in the extraordinary General Meeting of Shareholders of LITGRID AB (company code 302564383, registered office at Karlo Gustavo Emilio Manerheimo g. 8, Vilnius) on 1 December 2021:

1. Regarding approval of LITGRID AB Board’s decision No. 3 of 10 January 2022 (minutes No. 1)

1. To approve the creation of non-current assets by entering into 330/110/10 kV Jonava TP reconstruction design and contract works contract with Kauno tiltai AB, a company established and operating under the laws of the Republic of Lithuania, legal entity code 300513148, whose registered office is Ateities pl. 46, LT-52502, Kaunas. The contract price is 19 940 000 EUR (excluding VAT), 24 127 400 EUR (with VAT). 

2. To approve the essential terms and conditions of the 330/110/10 kV Jonava TS reconstruction design and contract works contract:

2.1.  Parties of the Contract – LITGRID AB, a company established and operating in accordance with the laws of the Republic of Lithuania, legal entity code 302564383, with its registered office at Karlo Gustavo Emilio Manerheimo str. 8, LT-05131, Vilnius, data on the company are collected and stored in the Register of Legal Entities of the Republic of Lithuania, on the one hand, and

joint-stock company Kauno tiltai, a company established and operating in accordance with the laws of the Republic of Lithuania, legal entity code 133729589, whose registered office is at Ateities pl. 46, LT-52502, Kaunas, data on the company are collected and stored in the Register of Legal Entities of the Republic of Lithuania on the other hand;

2.2.  Object of the Contract is the 330/110/10 kV Jonava TS reconstruction design and construction works contract (according to the standard terms and conditions of the LITGRID AB standard design and construction works procurement contract, approved by the Order No. 20IS-196 of the General Director of 23 December 2020).

2.3.  Term of the Contract – The term of performance of the Works is 46 months from the date of conclusion of the Contract. The contract is valid until the parties have fully fulfilled their contractual obligations or terminated the contract.

2.4.  Contract price and pricing, settlement procedure, reserve:

• Contract price – 19 940 000 EUR (excluding VAT).
• Pricing – The price calculation method used is a fixed price with a view. The procedure for price review is specified in Clause 7.3 of the General Terms and Conditions of the Contract.
• Payment procedure – the Contract price will be paid in installments according to the Worksheet (for Engineering Research and Technical Project Preparation Works – according to Annex 6) attached as Annex 15 to the Special Conditions of the Contract) and a monthly report (a standard form for the monthly contract report is attached as Annex 13 to the Special Conditions of the Contract).
• Reserve – not applicable.
  

2.5.  Liability security measures – The performance of the Contract will be secured by a first-demand, unconditional and irrevocable bank guarantee acceptable to the Customer. The amount of the security is 10%. from the original Contract price (excluding VAT).

2.6.  Other conditions – the Customer has the right to unilaterally terminate the Contract without going to court, notifying the Contractor thereof not later than 30 calendar days in advance, if the Government of the Republic of Lithuania adopts a decision confirming non-compliance with national security interests.

3.      To authorize the General Director of LITGRID AB without a separate decision of the Board of LITGRID AB to make decisions on changing the essential term of the Contract – Contract price – by reducing the price without any restrictions or increasing the price by concluding additional works agreements, if the total amount of all additional works 3% (t.y. 598 200 EUR excluding PVM) of the original Contract price.

4.      To oblige the General Director of LITGRID AB to inform the Board about the decisions made in paragraph 3 of this decision regarding the change of the essential term of the Contract before making such a decision by e-mail letter.

The individual authorized by LITGRID AB to provide additional information:

Jurga Eivaitė
Project manager
Communication Division
Phone: +370 613 19977
e-mail: jurga.eivaite@litgrid.eu