Utenos Trikotazas - Notification on material event

Change of managing director of Utenos trikotažas AB

On 19 August 2015, the Management Board of AB “Utenos trikotažas” and its
Managing Director Gintautas Bareika agreed to terminate their employment
relations, according to the request of G. Bareika to continue his career in
another field. 

The Management Board of “Utenos trikotažas” assigned Eimundas Mačiulis to be
the new Managing Director of the company. E. Mačiulis will assume his new
position as of September 10 of this year, and G. Bareika will manage the
company until then. "We would like to thank Gintautas for his unfading energy and personal input
into the reorganization of AB “Utenos trikotažas”. Over the past four years,
the company's financial condition was not only significantly improved, the
bonds of AB “Utenos trikotažas” redeemed, but the company's business strategy
was changed as well. The company implemented a continuous innovation process,
modern sales process management system, created a new brand ABOUT and
introduced it to the market, and also started developing the sales business of
innovative knitted materials. I am confident that this foundation will serve
greatly when developing the company in the future", - says Chairman of the
Management Board of AB “Utenos trikotažas” Algirdas Šabūnas. 

The new Managing Director of AB “Utenos trikotažas” E.Mačiulis served as
Director and Member of the Management Board in the companies "Topo Grupė", "AG
Trade" and "Deltaco Baltic". "I think that the successful managerial experience of Eimundas when developing
the activities of several companies, his openness to challenges and previous
experience in the marketing field will be very beneficial when implementing the
growth initiatives of AB “Utenos trikotažas” and development plans of our own
brands", - says Chairman of the Management Board A. Šabūnas. 

I, the undersigned, confirm that the above information is complete and true.

 Finance Director      AB „Utenos trikotažas“     Andrej Grobov