Audit committee`s opinion on the transaction with the related party has been received
In accordance with the paragraph 5 of Article 372 of the Law on Companies of the Republic of Lithuania, on 26 October, 2018 the President of AB Grigeo applied to the company's Audit Committee for the opinion on the intention to enter into the transaction with the related party - its 100% owned subsidiary UAB Grigeo Packaging, legal entity code 302329061, address Vilniaus g. 10, Grigiškės, Vilnius City municipality, the Republic of Lithuania.
On October 31, 2018 AB Grigeo received the opinion of the Audit Committee on the conclusion of the transaction with the related party. In the opinion of the Company's Audit Committee, the transaction intended to be concluded between AB “Grigeo” and its subsidiary UAB Grigeo Packaging, i.e. transfer of part of the business of AB Grigeo - the corrugated cardboard production business - to UAB Grigeo Packaging on the basis of the Share subscription agreement and the Business Acceptance-Transfer Act in exchange for the newly issued shares of UAB Grigeo Packaging is fair and reasoned as regards AB “Grigeo” and its shareholders who are not a party of the transaction.
The shareholders of the company may apply for a copy of the Audit Committee`s opinion by submitting a written request to the company's office at Vilniaus g. 10, Grigiškės, Vilniaus m. sav., the Republic of Lithuania or transmitting it by electronic means by e-mail . AB Grigeo no later than within 3 days from the receipt of the request will provide a copy of this opinion to the shareholder against a signature or send it by a registered mail or electronic means, provided that the security of the information transmitted is ensured and the shareholder’s identity can be established. The shareholder can also get acquainted with the opinion received at the company’s office at Vilniaus g. 10, Grigiškės, Vilniaus m. sav., the Republic of Lithuania on business days from 8.00 a.m. till 4.00 p.m. notifying about the request by email of phone 1 one business day in advance.
Gintautas Pangonis
President of AB Grigeo
