Klaipedos Nafta - Notification on material event

Regarding the awarded civil claim by the Company under the judgment of the court of first instance in the criminal case

On 27 December 2017 a court of a first instance - Klaipėda Regional Court adopted a judgement in the criminal case concerning Artūras Urbutis, Antanas Urbutis, Svetlana Popova, Andrejus Vaičiulis, former general manager of AB „Klaipėdos nafta“ (toliau – hereinafter, the “Company”) Jurgis Aušra, former director of commerce of the Company Ričardas Milvydas and UAB „Naftos grupė“ accused of illegal activities in which the Company has filed the claim for damages for the total amount of 20 883 558,16 EUR (twenty million, eight hundred eighty-three thousand, five hundred fifty-eight EUR and 16 cents) caused by the illegal activities of the accused.

The court inter alia decided:

(i) to award the Company damages for the amount of 20 883 558.16 EUR (twenty million, eight hundred eighty-three thousand, five hundred fifty-eight EUR and 16 cents) and 5 (five) percent annual interest on the awarded amount for the period from the day of the effect of the court’s judgment till the full enforcement of the court’s judgement to be paid jointly and severally by Artūras Urbutis, Antanas Urbutis, Svetlana Popova, Andrejus Vaičiulis, Jurgis Auša, Ričardas Milvydas, UAB „Naftos grupė“;

(ii) to award the Company the legal expenses for the amount of 1 666. 67 EUR (one thousand, six hundred sixty-six EUR and 67 cents) to be paid by each of the accused: Artūras Urbutis, Antanas Urbutis, Svetlana Popova, Andrejus Vaičiulis, Jurgis Aušra, Ričardas Milvydas;

The above-indicated judgement of the Klaipėda Regional Court may be appealed to the Court of Appeal of Lithuania within 20 days after its announcement.

In Company’s management view, the recovery of the awarded damages will depend on possible appeal of the adopted judgement, judgement of the court of the final instance, the value of the property in possession of the accused, and the amount of claim against the accused by the state.

 

         Marius Pulkauninkas, Chief Financial Officer, tel.: +370 5 2502879