Klaipedos Baldai AB - Notification on material event

RESOLUTION PROJECTS FOR GENERAL STOCKHOLDER'S MEETING HELD ON 2011 APRIL 28th

The board meeting of SC "Klaipėdos baldai" has prepared resolution projects

for stockholders meeting and vote:



1. The supervisory council reviews and proposals concerning the financial

accountability of SC "Klaipėdos baldai" for 2010, profit distribution project

and company report for 2010 by the board meeting.

Resolution: approve the supervisory council auditor .



2. The auditor report concerning the financial accountability of SC „Klaipėdos

baldai“ for 2010.

Resolution: approve the report auditor.



3. Financial accountability consolidation for 2010.

Resolution: approve the financial accountability for 2010.



4. Profit distribution project for 2010.

Resolution: approve the profit distribution project as it follows:

PROFIT DISTRIBUTION PROJECT



Article                                                     Amount   Amount

                                                         thousand/Lt
thousand/EUR 



Retained earnings (loss) in the end of last fiscal year    38 705      11 210



Net profit (loss)                                           4 074      1 180



Distributable result-profit (loss) in the end of fiscal

 year                                                      42 779     12 390



The contribution of stockholders for the loss refund               -           
 - 



Transfer from the reserve                                           1 085      314 



Distributable earnings                                     43 864      12 704



The distribution of profit:



 reserves set by law                                       -            -



 other reserves (for acquisition of own shares)            1 000          290



 dividends                                                 -               -



 other                                                      -               -



Retained earnings in the end of fiscal year                   42 864      12 414

5. The election of the auditor for 2011, the establishment of the rate for the

report.

 Recolution draft is approval for vote:



The vote on the proposed four audit firms - JSC " ERNST & YOUNG BALTIC ", JSC"PriceWaterHouseCoopers", JSC " Deloitte Lietuva"  and JSC "KPMG Baltics", was
elected by a majority of audit firm " ............". 

Approve the annual remuneration for audit services, depending on the size of
the audit services contract. When signing a contract for audit services for one
year, the wage shall not exceed 40 000 Lt excl. VAT, for two year - the wage
shall not exceed 39 000 Lt excl. VAT, for three year - the wage shall not
exceed 37 000 Lt excl. VAT. 

6) Resolution re share buy back.

a) To buy up to 10 percent of company shares.

b) The purpose of acquisition of own shares is to maintain and enhance the
company's share price. 

c) The period during which the company may buy own shares is 12 months from the
decision taking date. 

d) To set up the maximum price per share for own shares to be purchased - 1.20
EUR (4,14 LTL), respectively, a minimum price of one share - equal to the
nominal value per share, that is, 0.290 EUR (1,00 LTL). 

e) To authorize the Board to organize the share buy back, establish share
buying and selling procedures, time, number of shares and price, perform other
related activities in accordance with the conditions set out in this resolution
and requirements set by Republic of Lithuania Law on Companies.Klausyti 

 Resolution: approve the share buy back resolution.



Managing Director

Ramunas Marozas



For supplementary information contact :

Ramunas Marozas

tel. +370 687 56600

Attachments:

Finansine_atskaitomybe_metinis KLB_ENG_final.pdf

Atsakingų asmenų patvirtinimas (anglu)_2010 m.pdf