Klaipedos Nafta AB - Notification on material event

Notice on the convened extraordinary general meeting of shareholders of Klaipėdos Nafta AB

We hereby inform you that on the initiative and by the decision of the Board of
AB Klaipėdos nafta, code 110648893, registered at Burių st. 19, Klaipėda
(hereinafter, the “Company”), an extraordinary general meeting of shareholders
of the Company was convened on 24 May 2013 at 1.00 p.m. The meeting was held in
the registered office of the Company at Burių st.19, Klaipėda. 

Agenda of the meeting:

Regarding approval of the decision of the Board of AB Klaipėdos nafta to amend
AB Klaipėdos nafta Board decision, dated 21 December 2012, to conclude contract
with the winner of the public procurement “Procurement of Engineering,
Procurement and Construction (EPC) Works for Natural Gas Pipeline System” 

Decisions adopted:

“To approve the decision of the Board of AB Klaipėdos nafta:

  1. To change the decisions taken in the meeting of the Board of AB Klaipėdos
     Nafta on 21 December 2012, in connection with the conclusion of the
     Contract (hereinafter, the Contract) for Natural Gas Pipeline System
     Engineering, Procurement and Construction (EPC) Works (hereinafter, the
     Works), necessary in constructing the connection between the Liquefied
     Natural Gas Terminal's (hereinafter, the LNGT) jetty within the water area
     of the Klaipėda State Sea Port (near the northern part of the Kiaulės
     Nugara island) and the Lithuanian natural gas transportation system
(gas pipeline Jurbarkas-Klaipėda (section Tauragė-Klaipėda) near Klaipėda
     DSS-2 (gas distribution station) by Kiškėnų village, Dovilų sub-district,
     Klaipėda district municipality), reading them as follows:<p>1.1. To conclude Contract with PPS Pipeline Systems GmbH, the winner of the
     public procurement
“Procurement of Engineering, Procurement and Construction (EPC) Works for
     Natural Gas Pipeline System” performed by
AB Klaipėdos Nafta under negotiated procedure with a publication of notice,
     that submitted the most economically beneficial tender offer (hereinafter,
     the Contractor).</p><p>1.2.The total fixed price for all the Works under the Contract will be LTL 
94,840,000 
(ninety four million eight hundred and forty thousand litas), VAT excl.,
     and LTL
114,756,400 
(one hundred and fourteen million 
seven hundred and fifty six thousand four hundred 
litas), VAT incl. The rate of the VAT on the day of the conclusion of the
     Contract is equal to 21 percent. This fixed price of the Contract can
     increase only in exceptional cases provided for in the Contract. AB
     Klaipėdos Nafta will pay the indicated fixed price of the Contract only for
     the Works actually performed
.</p><p>1.3. All the Works under the Contract must be finished till 1 August 2014.
The 
     Works performance term may only be extended in exceptional cases set forth
     in the Contract
.</p>

  2. To determine that the Contract with the winner will be concluded only after
     expiry of the obligatory 15 days' period of deferment applicable to the
     conclusion of the Contract, as provided for in Article 2.22 of the Law of
     the Republic of Lithuania on Public Procurement and in case there are no
     valid instructions or decisions of institutions with relevant powers,
     prohibiting signing the Contract with the Contractor that won this specific
     public procurement.”




         Mantas Bartuška, Director of the Finance and Administration
Department, 8 46 391 763