AB Grigeo: decisions of General Meeting held on 26/04/2018

Vilnius, Lithuania

The General Meeting of shareholders of AB Grigeo was held on 26/04/2018. The meeting heard the consolidated annual report of the Company for the year 2017 and the Auditor’s report and made the following decisions:

• to approve the set of consolidated and separate financial statements of the Company for the year 2017.
• To approve the appropriation of the Company’s profit for the year 2017 according to the draft of profit appropriation presented for the Annual General Meeting of Shareholders: from the Company’s distributable profit of EUR 17,933,516 to allocate EUR 3.942.000 for the payment of dividends* for the year 2017, i.e. EUR 0.06 dividend per one share, to appropriate EUR 130,000 for annual payments (tantiemes) to the members of the Board and Supervisory board of the Company and to carry forward to the next financial year an amount of EUR 13,991,516 as undistributed profit.
• To elect audit firm "KPMG Baltics”, UAB, legal entity code 111494971, registered office: Konstitucijos pr. 29, Vilnius, for the Company's 2018 year and 2019 year consolidated and separate financial statements audit; authorize the President of the Company to conclude an audit contract for the provision of services at a price agreed upon by the parties but not exceeding 17,000 EUR, excluding VAT, for the audit of the consolidated and separate financial statements of the Company for one financial year.

* The Law on Companies of the Republic of Lithuania provides that dividends shall be paid to the shareholders who at the end of the tenth business day following the Annual General Meeting that adopts a decision on dividend payment (rights accounting day) will be on the Shareholders’ List of the Company, i.e. will be shareholders of AB Grigeo on 11 May, 2018. Following the Law on Companies the Company should pay dividends within the one month following the day on which the decision on profit distribution was adopted, i.e. till 26 May, 2018. Following Lithuanian laws dividends paid to natural persons–residents of the Republic of Lithuania and natural persons–residents of foreign countries are subject to withholding Personal income tax of 15 per cent. Dividends paid to legal entities of the Republic of Lithuania and legal entities–residents of foreign countries are subject to withholding Corporate income tax of 15 per cent, unless otherwise provided for by the laws.

Gintautas Pangonis
President of AB Grigeo
(+370 5) 243 58 01