Audit committee`s opinion on the transactions with the related parties has been received
On 9 August, 2019 AB Grigeo, legal entity code 110012450, address Vilniaus g. 10, Grigiškės, Vilnius City municipality, the Republic of Lithuania, data about the company is collected and stored in the Register of Legal entities of the Republic of Lithuania (hereinafter – the Company) received the opinion of the Company’s Audit Committee on the conclusion of the following transactions with the related parties (hereinafter – the Transactions):
- Share Subscription Agreement intended to be concluded between the Company and a 100 percent owned subsidiary of the Company UAB Grigeo investicijų valdymas, legal entity code 302416687, address Vilniaus g. 10, Grigiškės, Vilnius City municipality, the Republic of Lithuania, data about the company is collected and stored in the Register of Legal entities of the Republic of Lithuania, under which the Company will transfer to UAB Grigeo investicijų valdymas 100 percent of the shares of the subsidiary UAB Grigeo Packaging, legal entity code 302329061, address Vilniaus g. 10, Grigiškės, Vilnius City municipality, the Republic of Lithuania, data about the company is collected and stored in the Register of Legal entities of the Republic of Lithuania in exchange for the newly issued shares of UAB Grigeo investicijų valdymas;
- Share Sale and Purchase Agreement intended to be concluded between the Company and UAB Grigeo investicijų valdymas under which the Company shall purchase the shares of UAB Grigeo Recycling, legal entity code 302529158, address Vilniaus g. 10, Grigiškės, Vilnius City municipality, the Republic of Lithuania, constituting 10.81 percent of the authorised capital of UAB Grigeo Recycling;
- Share Sale and Purchase Agreement intended to be concluded between the Company and Company's indirectly controlled subsidiary AB Grigeo Klaipėda, legal entity code 141011268, address Nemuno g. 2, Klaipėda, the Republic of Lithuania, data about the company is collected and stored in the Register of Legal entities of the Republic of Lithuania under which the Company shall purchase the shares of UAB Grigeo Recycling, constituting 39.19 percent of the authorised capital of UAB Grigeo Recycling to the Company.
In the opinion of the Company's Audit Committee, the Transactions intended to be concluded between the Company and its related Parties are fair and reasoned as regards the Company and its shareholders who are not a party of the transactions.
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 . The Company 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 one business day in advance.
Gintautas Pangonis
President of AB Grigeo
