Klaipedos Nafta AB - Notification on material event

Notice on the convened Annual General Meeting of Shareholders of Klaipėdos Nafta AB

We hereby inform you that on the initiative and by the decision of the Board of
AB Klaipėdos nafta, code 110648893, registered at Burių st. 19, Klaipėda
(hereinafter, the “Company”), an annual general meeting of shareholders of the
Company was convened on 29 April 2014 at 1.00 p.m. The meeting was held in the
registered office of the Company at Burių st.19, Klaipėda. 

Agenda of the meeting:

1. Announcement of the Independent Auditor's Report regarding the Financial
Statements and Annual Report of the Company for the year 2013 to the
shareholders. 

2. Announcement of the Annual Report of Klaipėdos nafta, AB for the year 2013
to the shareholders. 

3. On the approval of the audited Financial Statements of Klaipėdos nafta, AB
for the year 2013. 

4. On the appropriation of profit (loss) of Klaipėdos nafta, AB for the year
2013. 

5. On the assignment of the audit company that shall perform the audit of the
Financial Statements for the year 2014 and the approval of the terms of payment
for audit services. 

Decisions adopted:

1. On the announcement of the Auditor's Report regarding the Financial
Statements and Annual Report of the Company for the year 2013 to the
shareholders: 

“The Auditor's Report regarding the Financial Statements and Annual Report of
the Company for the year 2013 had been heard by the shareholders. Decision on
this topic of the Agenda should not be taken.” 

2. On the announcement of the Annual Report of Klaipėdos nafta, AB for the year
2013 to the shareholders. 

„The Annual Report of Klaipėdos nafta, AB for the year 2013, as drafted by the
Company, assessed by the Auditor and approved by the Board of Klaipėdos nafta,
AB had been heard by the Company. Decision on this topic of the Agenda should
not be taken.” 

3. On the approval of the audited Financial Statements of Klaipėdos nafta, AB
for the year 2013: 

“To approve the audited Financial Statements of Klaipėdos nafta, AB for the
year 2013.” 

4. On the appropriation of profit (loss) of Klaipėdos nafta, AB for the year
2013: 

“To distribute the Company's profit in the total sum of 35.648.546 LTL (equal
to 10.324.532 EUR) available for appropriation, as follows: 

                       Ratios                              Amount,  Amount, Euro
                                                             Litas              
Non-allocated profit (loss) at the beginning of the              -             -
 financial year as of 01-01-2013                                                
Net profit (loss) for the financial year                35.648.546    10.324.532
Transfers from restricted reserves                               -             -
Shareholders' contribution against losses                        -             -
Portion of the reserve of tangible fixed assets                  -             -
Profit for allocation (1+2+3+4+5)                       35.648.546    10.324.532
Allocation of profit to legal reserve                    1.782.427       516.227
Allocation of profit to own shares acquisition                   -             -
Allocation of profit to other reserves                  33.509.633     9.705.061
Allocation of profit to dividends                          356.485       103.245
Allocation of profit to tantiems                                 -             -
Non-allocated profit (loss) at the end of the year               0             0
 2013 carried forward to next financial year               
 (6-7-8-9-10-11)                                                                
Number of shares                                       380.606.184   380.606.184
Dividends per share                                   0,0009366255  0,0002712655



5. On the assignment of the audit company that shall perform the audit of the
Financial Statements for the year 2014 and the approval of the terms of payment
for audit services: 

“Based on the results of the Public Tender “Purchase of Audit Services for the
Year 2014” the audit company to be assigned for the performance of the audit of
the Financial Statements of the Company and assessment of its Annual Report for
the year 2014, shall be -“Ernst & Young Baltic”, UAB (hereinafter referred to
as the Auditor); 

To authorize the General Manger of the Company to conclude the contract for
audit services, based on which the total audit fee in the amount of 54,000.00
LTL (fifty four thousand Lithuanian litas) exclusive of VAT shall be paid for
the audit of the Company's Financial Statement, assessment of the Annual Report
for the year 2013 and drafting of the Auditor's Report (hereinafter referred to
as the Audit Fee), as well as to determine the following conditions of payment: 

- The Audit fee does not include travel and accommodation expenses, incurred by
the Auditor in providing services under this Contract. The Client shall
reimburse these expenses to the Auditor. 

- The Auditor shall issue invoices for the Audit fee, as follows: 50 percent of
the Contract price after completion of the interim audit but not later than 30
November of the relevant year and 50 percent of the Contract price after
issuance of draft Auditor's Report on the relevant year Financial Statements by
the Auditor. The invoices shall be paid up by the Company within 30 days after
issuance of the invoices.” 



Enclosures:

1. Approved Financial Statements of Klaipėdos nafta, AB, for the year 2013,
prepared according to the International Financial Reporting Standards approved
for application within the European Union, provided together with the
Independent Auditor's Report hereto, as well as the Annual Report of Klaipėdos
nafta, AB; 

2. Approved Appropriation of Profit (Loss) of Klaipėdos nafta, AB, for the year
2013. 




         Mantas Bartuška, Director of Finance and Administration Department,
(+370 46) 391 763

Attachments:

2_Approved Appropriation of Profit Loss of Klaipedos nafta AB for the year 2013.pdf

1_Approved Financial Statements Klaipedos nafta 2013_Independent Auditors Report_Annual Report.pdf