Vilniaus Degtine - General meeting of shareholders

Resolutions of the General Shareholder Meeting held on 6th of April, 2017

1. WAS CONSIDERED:

Auditor's opinion on the company's financial statements and on the company's yearly report.

RESOLUTION (unanimously accepted):.

Approve Auditor's opinion.

 

2. WAS CONSIDERED:

Proposals and comments of the Supervisory Board.

Meeting has listened proposals and comments of the Supervisory Board.

 

3. WAS CONSIDERED:

Approval of the company's yearly report for the year 2016.

RESOLUTION (unanimously accepted):.

Approve Vilniaus degtinė AB yearly report for the year 2016.

 

4. WAS CONSIDERED:

Approval of the company's financial statements for the year 2016.

RESOLUTION (unanimously accepted):.

Approve the company‘s financial statements for the year 2016, according to which the Company's assets as of the 31^st December 2016 were EUR 27 419 405 owner's equity – EUR 14 961 022, and profit of 2016 - EUR 2 002 652.

 

5. WAS CONSIDERED:

Company's profit appropriation for 2016 in the year 2017. General Manager of the company has informed shareholder about AB “Vilniaus degtinė” obligation do not take decisions for payment of dividends for the period during which there are binding agreements with AB DNB bank, by which are corresponding obligations are binding.

 

RESOLUTION (unanimously accepted):

Results of the year 2016:

1. Retained profit of previous financial year - at the end of the year under report EUR 5 184 921;

2. Profit of the year under report EUR 2 002 652;

3. Profit (loss) of the financial year under report not recognized on the Gross income report – EUR absent ;

4. Transfers from reserves – absent;

5. Shareholder contributions to cover the Company's losses – absent;

6. Allocated profit, total EUR 7 187 572;

7. Share of profit allocated to the statutory reserve – EUR 928;

8. Share of profit allocated to the reserve for purchase of own shares – absent;

9. Share of profit allocated to other reserves – absent;

10. Share of profit allocated to payment of dividends – absent;

11. Share of profit allocated to annual allowances (bonuses) to members of the Board and the Supervisory Board, to employee bonuses and other purposes – absent;

12. Retained profit at the end of the year under report, moved forward to the following year EUR 7 186 644.

 

6. WAS CONSIDERED:

Election of the Audit Company and determination of the terms of payment for audit services.

RESOLUTION (unanimously accepted):

1. Elect audit company „KPMG Baltics“ UAB to the position of the auditors of Vilniaus degtinė AB for 2017.

2. Authorise the Company's Managing Director (CEO) to sign service provision agreement with the Company's auditor „KPMG Baltics“ UAB with regard to execution of the audit of Annual Financial Statements 2017, paying for the services the price agreed by the parties.

 

7. WAS CONSIDERED

Regarding mortgage and pledge of companies fixed assets.

RESOLUTION (unanimously accepted):

According to amendments of Credit Agreement No. K-2400-2008-464 concluded 2008-09-29 to amend corresponding contractual mortgages / pledges so that they would correspond to the existing Credit contracts versions. Concluding such amendments, without other amendments, would be changed the size of the credit (to 11 300 000 euro), changed sum of maximum mortgage / pledge.

To authorize company's general manager Dovile Tamoševičienė to sign all documents related to this decision, including, but not limiting to: amendments of contractual mortgages / pledges.

 

8. WAS CONSIDERED

Other questions.

Additional question was not submitted for the shareholders meeting.

 

 

General Manager

Dovilė Tamoševičienė

8 5 233 0819