Panevezio Statybos Trestas - Notification on material event

Draft Resolutions of Extraordinary General Meeting of Shareholders

The Draft Resolutions of the Extraordinary General Meeting of Shareholders to
be held on 18 November 2015 are as follows: 

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 2015. To pay
the amount not exceeding 43 200 (forty three thousand two hundred) Euros, 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 2015,
except the companies of Panevėžio statybos trestas AB Group located in Latvia
and Sweden, Territorija OOO located in Vologda Region and Baltlitstroj OOO
located in Kaliningrad Region, both in the Russian Federation. To pay the
amount not exceeding 27 000 (twenty seven thousand) Euros, VAT excluded, for
the audit of the financial statements and annual report of Panevėžio statybos
trestas AB for the year 2015. 

1.2. Auditors 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, to be selected at the
discretion of the General Meetings of Shareholders at these companies
considering the possibilities of these audit companies at the same time to
carry out the review/audit of the financial statement package of the relevant
company belonging to Panevėžio statybos trestas AB Group for consolidation
purposes. 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 provide for the possibility in the companies of Panevėžio statybos
trestas AB Group, Baltlitstroj OOO and Territorija OOO, located in 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 of the companies thereof and the review of the
financial statement package for consolidation purposes/audit for consolidation
purposes will be carried out by KPMG Baltics UAB. In these cases the payment
for the services thereof will be added to the amounts specified in item 1.1.
hereinabove. 

1.4. To delegate the Managing Director of Panevėžio statybos trestas AB:

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

1.4.2. To initiate the General Meetings of Shareholders at the companies of
Panevėžio statybos trestas AB Group, by means of participation at the meetings
thereof to ensure selection of the relevant auditor and following the procedure
defined in item 1.5. hereinbelow by these companies and their subsidiary
companies. 

1.5. 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 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