LITGRID turtas AB - Notification on material event

Notice of the Extraordinary General Meeting of Shareholders of

Vilnius, Lithuania, 2011-03-10 08:49 CET (GLOBE NEWSWIRE) -- The extraordinary
general meeting of shareholders of LITGRID Turtas AB (company code 302564383,
registered office address A. Juozapavičiaus g. 13, Vilnius) is being convened
on 1 April 2011 on the initiative of and by resolution of the Board of the
Company. The meeting will take place in room 226 of the company, A.
Juozapavičiaus g. 13, Vilnius. The beginning of the meeting: at 10.00 a.m. on 1
April 2011. The beginning of the shareholders‘ registration: at 9.30 a.m. on 1
April 2011. The end of the shareholders‘ registration: at 9.55 a.m. on 1 April
2011. 

25 March 2011 has been set as the shareholders‘ qualification date for the
purposes of the extraordinary general meeting of shareholders. Only those
persons who are shareholders of LITGRID Turtas AB as of the end of the said
qualification day may attend and vote at the extraordinary general meeting of
shareholders. 

15 April 2011 has been set as the rights‘ qualification date for the purposes
of the extraordinary general meeting of shareholders. Only those persons who
are shareholders of the Company as of the end of the said qualification day may
exercise the property rights of shareholders stated in paragraphs 1 to 4,
Article 15(1) of the Republic of Lithuania Law on Companies. 

Agenda of the meeting:

  1. Regarding recall of members of the Board.

Draft resolution proposed:

“1. Recall the members Mr. Vidmantas Grušas and Mr. Renatas Šumskis from the
Board of LITGRID Turtas AB“. 

  1. Regarding election of members of the Board.

Draft resolution proposed:

“1. Elect Mr. Alfonsas Morkvėnas (personal ID ________, residing at  _________)
and Mr. Valentinas Milaknis (personal ID ________, residing at _________) as
members of the Board of LITGRID Turtas AB until the end of term of office of
the current Board of LITGRID Turtas AB.“ 

  1. Regarding increase of the authorised capital of BALTPOOL UAB.

Draft resolution proposed:

„1. Approve of the following resolutions passed by the Board of LITGRID Turtas
AB on 9 March 2011: 

  1. resolution regarding co-participation of LITGRID Turtas AB and Klaipėdos
     Nafta AB in BATLPOOL UAB, provided that Klaipėdos Nafta AB will invest
     money in the authorised capital of BALTPOOL UAB by acquiring 33% of the
     shares in BALTPOOL UAB;
  2. resolution on increasing the authorised 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. resolution on revocation the pre-emption right of 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.

The shareholders may get introduced to the documents related to the agenda of
the meeting, draft resolutions and the general ballot paper in the premises of
LITGRID Turtas AB at the address Room 141, A. Juozapavičiaus g. 13, Vilnius,
starting from 10 March 2011 at working hours of the company (from 7.30 a.m. to
11.30 a.m. and from 12.15 p.m. to 16.30 p.m., on Fridays from 7.30 a.m. to
11.30 a.m. and from 12.15 p.m. to 15.15 p.m.). These documents and any other
information, which is related to the shareholders‘ right to propose additions
to the agenda, to propose draft resolutions for the items on the agenda, and to
submit questions concerning the items on the agenda to the Company in advance
and which must be made public under the law,  will be also published in the
Company‘s website http://www.litgrid.eu from 10 March 2010. 

At a written request made by a shareholder holding the voting right or its duly
authorised proxy, the company shall prepare the general ballot paper and send
it not later than 10 days prior to the date of the extraordinary general
meeting of shareholders. The general ballot shall be sent by registered letter
or delivered to a shareholder by hand against signature. The general ballot
paper will be also published in the company‘s website http://www.litgrid.eu.
The completed and signed general ballot paper and a document evidencing the
shareholder‘s right to vote may be delivered to the company by registered
letter or by hand delivery to the address A. Juozapavičiaus g. 13, Vilnius not
later than by the end of the working day (16.30 p.m.) on 31 March 2011. 

The company reserves the right not to count the vote of a shareholder or
his/her authorised person cast in an advance voting if the submitted general
ballot paper does not meet the requirements laid down in Article 30(3) and (4)
of the Republic of Lithuania Law on Companies, or is received late, or is
completed in a manner which does not allow determining the true will of the
shareholder with respect to any individual issue. 

Persons may vote at a general meeting of shareholders by proxy. A proxy is a
written document that a person (principal) issues to another person (proxy) in
order to authorise the latter to represent the principal in the establishing
and maintaining relations with third parties. A proxy authorising to take, on
behalf of a natural person, actions related to legal persons must be notarially
certified except for cases provided for in the laws when a proxy issued in
another from is permitted. A proxy must produce a personal ID documents and a
proxy certified according to the procedure prescribed by the law, which are to
be produced not later than by the end of registration of shareholders for the
general meeting of shareholders. At the general meeting of shareholders a proxy
may exercise the same rights as the rights held by the shareholder represented
by him/her. 

Shareholders entitled to attend a general meeting of shareholders may authorise
a natural or legal person, by means of electronic communications, to attend and
vote on their behalf at a general meeting of shareholders. Such proxy is not
subject to notarial certification. The company will recognise a proxy issued by
electronic means provided that it has been signed by the shareholder by an
electronic signature, which had been created using secure signature software
and approved by a qualification certificate valid in the Republic of Lithuania,
i. e. provided that security of the transmitted information is ensured and
identity of the shareholder can be established. A shareholder must give notice
of such electronic proxy to the company in writing by sending it via email to
info@litgrid.eu not later than by the end of the working day (16.30 p.m.) on 31
March 2011. 

No attending or voting by means of electronic communications will be allowed at
the general meeting of shareholders. 


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