Imoniu grupe ALITA, AB - Notification on material event

Re Alita has received an arbitral award notice from the Foreign Trade Court of Arbitration at the Serbian Chamber of Commerce

Alytus, Lithuania, 2012-10-02 15:18 CEST (GLOBE NEWSWIRE) -- Company group
ALITA AB (the Company) has already informed of the arbitration case at the
Foreign Trade Court of Arbitration at the Serbian Chamber of Commerce,
initiated by the Serbian Privatisation Agency claiming EUR 68 347 168 from AB
“ALT Investicijos” and United Nordic Beverages AB and where on the request of
the Serbian Privatisation Agency the arbitration court included the Company as
a respondent. On 1 October 2012 the Company received a notice from the Foreign
Trade Court of Arbitration at the Serbian Chamber of Commerce concerning the
adopted arbitral award. The award was received in Serbian language and is
currently in translation. From the translated part of the award, the Company
understands that the Privatisation agency was awarded EUR 16 848 655 and 1,95 %
annual interest, but joint responsibility of the Company is limited to the
maximum amount of LTL 39 196 065 (EUR 11 351 965, according to the official
Lietuvos bankas currency exchange rate for October 2, 2012) ).  Also
Privatisation agency was awarded EUR 204 832 legal expenses and the award
stated that respondents are fully responsible for them. 

The Company continues to hold the position that it was unfoundedly included as
a respondent in the arbitration proceedings initiated by the Serbian
Privatisation Agency against AB “ALT Investicijos” and United Nordic Beverages
AB, despite the fact that it is not a party to the Privatisation Agreement of
“Beogradska industrija piva” and has never agreed to arbitrate. Foreign
arbitral awards can be enforced in Lithuania if they are recognised and allowed
to be enforced in accordance with the Lithuanian laws. The present arbitral
award, received by the Company, is not recognised in accordance with the
Lithuanian laws. 




         For additional information, please contact the General Director Vaidas
Mickus, tel. (+ 370 315) 57243.