Zemaitijos Pienas - Notification on material event

AB “Žemaitijos pienas” dividend payment procedure for a period shorter than one financial year, i.e. first half of 2016

Telšiai, Lithuania, 2016-09-20 08:08 CEST (GLOBE NEWSWIRE) -- 
AB “Žemaitijos pienas” dividend payment procedure for a period shorter than one
                    financial year, i.e. first half of 2016

The extraordinary general shareholder‘s meeting of AB “Žemaitijos pienas“
(company code 180240752, registered on Sedos str. 35, Telšiai, Lithuania) which
took place on 16 September, 2016 decided to divide the profit of the first half
of 2016 and distribute 0,12 Euro dividends per share. 

The dividends will be distributed among those shareholders who become or remain
shareholders of AB “Žemaitijos pienas” by the end of the tenth working day
after the general shareholder’s meeting, i.e. 30 September, 2016. 

The order of paying dividends after 12 October, 2016, is the following:

The company will transfer the dividends, after deduction of personal income tax
or corporate income tax in accordance with the laws of the Republic of
Lithuania, to the shareholders, whose securities accounts are managed by
brokerage companies or credit institutions, providing accounting services, in
the following manner: dividends will be transferred to the financial brokerage
firms or credit institutions, and they accordingly will transfer the amount to
a specified account of their client. 

Dividends to other shareholders will be paid at company’s cashier (AB
“Žemaitijos pienas“, Sedos str. 35, Telšiai) after deduction of personal income
tax or corporate income tax in accordance with the laws of the Republic of
Lithuania, or transferred into any bank account, specified by a shareholder
after providing a written request together with the copy of a shareholder’s ID.
Written requests can be sent to AB “Žemaitijos pienas“, Sedos str. 35, LT-
87101 Telšiai or e-mail info@zpienas.lt 

The following taxes are applied to dividends of 2016:

15 percent personal income tax is applied to dividends distributed to residents
of the Republic of Lithuania and residents of foreign countries. 

15 percent income tax is applied to dividends distributed to residents of the
Republic of Lithuania and residents of foreign countries unless the law
stipulates otherwise. 

Foreign countries that the Republic of Lithuania has concluded international
agreements for the avoidance of double taxation with, can use the privileges of
such agreements and submit a completed Foreign resident's request to reduce the
tax, form FR0021 (DAS-1). 

Information provided by AB “Žemaitijos pienas“, phone 8-444-22348

Gintaras Keliauskas

Lawyer

 +370 444 22208