2016-04-26 15:12:42 CEST

2016-04-26 15:12:42 CEST


REGULATED INFORMATION

Lithuanian English
LITGRID - Notification on material event

Decisions adopted at the Ordinary General Meeting of Litgrid Shareholders, 26 April 2016 


Vilnius, Lithuania, 2016-04-26 15:11 CEST (GLOBE NEWSWIRE) -- On April 26,
2016, during the ordinary general of Litgrid shareholders (legal entity code
302564383, legal status – public company, registered address: A. Juozapavičiaus
g. 13, Vilnius city, Vilnius City Municipality, the Republic of Lithuania, data
about the company are accumulated and stored at the Vilnius branch of the State
Enterprise Centre of Registers, Division of Legal Entities) the following
decisions were made: 

1.   Approval of the Consolidated Annual Report for 2015.

DECISION:

“To approve the Consolidated Annual Report on Corporate and the Litgrid Group
of Companies Operation in 2015.” (Annex No. 1) 

2.   Presentation of an independent auditor’s findings.

The issue does not require decisions. (Annex No. 1)

3.   Approval of the set of Consolidated and Corporate Financial Report 2015.

DECISION:

“To approve the set of Consolidated and Corporate Financial Report of Litgrid
2015". (Annex No. 1) 

4.   Distribution of corporate profit (loss) 2015.

DECISION:

“To approve the proposed distribution of corporate profit (loss) of Litgrid
2015.” (Annex No. 2) 

5.   Approval of the new edition of Litgrid Articles of Association.

DECISION:

“5.1. To approve the new edition of Litgrid Articles of Association (Annex No.
3). 

5.2. To authorize the Litgrid CEO Daivis Virbickas sign the new edition of
Litgrid Articles of Association and personally or through an authorized person
to carry out any action in relation to its approval and registration in
Lithuanian Register of legal entities according to the laws.” 

According to General Director of EPSO-G Rolandas Zukas, renewed Litgrid
Articles of Association will ensure more efficient and transparent management
of the company. 

“Amendments in the Articles of Association adjust the powers of the Board,
enhance supervisory and control functions. A new mixed model of the Board was
validated, meaning the Board will consist of two members from Litgrid, two
members from holding company EPSO-G and one independent member. This will
ensure the quality and transparency of Board decisions. In addition, Company’s
goals were reviewed and updated, including the long-term strategic goals”, -
said Mr Zukas. 

EPSO-G General Director Rolandas Zukas stressed that in order to create the
preconditions for the consistent management of the group companies, the
Articles of Association of other major EPSO-G companies - Lithuanian natural
gas transmission system operator Amber Grid and energy exchange operator
Baltpool - were standardized as well. 

Information on aforementioned decisions is also available on Litgrid website
http://www.litgrid.eu as well as in Litgrid headquarters (A. Juozapavičiaus g.
13, Vilnius) during business hours (7.30-11.30 and 12.15-16.30, on Fridays
7.30-11.30 and 12.15-15.15). 

Attachments:

1. Consolidated and Company's Financial Statements for 2015, presented together
with Independent Auditor's Report and Consolidated Annual Report; 

2. Distribution of Corporate Profit (Loss) 2015;

3. New edition of Litgrid Articles of Association;

4. Informational Notice.


         Vilija Railaitė
         Litgrid Head of Communications
         Tel. +370 613 19977
         E-mail: vilija.railaite@litgrid.eu