Imoniu grupe ALITA, AB - Notification on material event

Judgement regarding the claim of Plass Investments Limited on invalidation of the Articles of Association and the Share Subscription Agreement was received

Alytus, Lithuania, 2013-03-27 16:11 CET (GLOBE NEWSWIRE) -- On 27 March 2013
company group “ALITA”, AB (hereinafter, the “Company”) received a judgement
from the Kaunas Regional Court regarding the claim filed by Plass Investments
Limited to invalidate the Articles of Association of the Company and the Share
Subscription Agreement concluded between the Company and FR&R Invest IGA S.A.,
dated 6 October 2011. In the opinion of the management of the Company, this
judgement is groundless and the Company will file its appeal in due course. 

The court inter alia decided:

(i) to invalidate the decisions of the general meeting of shareholders of the
Company of 3 October 2011 regarding reduction of the authorised capital of the
Company and to invalidate the Articles of Association of the Company (wording
of 3 October 2011, according to which the authorised capital of the Company is
LTL 3,126,000); 

(ii) to invalidate the decisions of the general meeting of shareholders of the
Company of 3 October 2011 regarding increase of the authorised capital of the
Company, regarding revocation of the pre-emptive right of all the shareholders
to acquire new shares of the Company and provision of the right to acquire
thereof to FR&R Invest IGA S.A. and to invalidate the Articles of Association
of the Company (wording of 3 October 2011, according to which the authorised
capital of the Company is LTL 20,000,000); 

(iii) to invalidate the Share Subscription Agreement concluded between the
Company and FR&R Invest IGA S.A., dated 6 October 2011. 

Aforementioned judgement of the Kaunas Regional Court may be appealed against
to the Lithuanian Court of Appeals within 30 days after its announcement and
the appeal will be filed by the Company in due course. 


         General Director Vaidas Mickus, tel. (+370 315) 57243