Resolutions of the Extraordinary General Meeting of Shareholders

The following resolutions were made during the Extraordinary General Meeting of Shareholders held on 14 August 2019:

1. THE AGENDA QUESTION:

The correction of the Company situation* and reduction of the authorized capital;

THE DECISION:

 (if the decision was made according article 59 part 11 point 1 of LR Law on Companies)

5. To reduce the authorized capital of the Company from EUR 11 886 718.50 till EUR 10 301 822.70, according 52 article 2 part 1 point of Law on Companies of Lithuanian Republic (only for elimination losses in the balance of the Company and in that way the ratio of equity and of authorized capital will be restored (LR Law on Companies article 38 part 3)). The authorized capital will be reduced by EUR EUR 1 584 895,80 The authorized capital is reduced by reducing EUR 0,30 nominal value of existing shares by EUR 0,04  per share. The nominal value of the share after reduction will be EUR 0,26  per share.

Approved changes of p. 4.1 and p. 5.1 of the articles of association, related to reduction of the authorized capital of AB „Snaigė“ and the new redaction of the articles of association (attached), as follows:

“4.1. The authorized capital of the Company is EUR 10 301 822.70, (ten million three hundred one thousand eight hundred twenty two euro and 70 eurocents).“

and

„5.1. The authorized capital of the Company is divided into 39,622,395 (thirty nine million six hundred twenty two thousand three hundred ninety five) shares. The nominal value of one share is 0.26 euro  (twenty six eurocent).“

Authorized the General Manager of the Company Gediminas Čeika (with the right to reauthorize) to perform all necessary actions relating to implementation of approved decisions by the extraordinary shareholders meeting and to sign changed articles of association.

2. THE AGENDA QUESTION:

The Election of the audit firm for auditing purposes of financial statements and establishment of terms regarding the payment for audit services

THE DECISION:

Grant Thornton Baltic UAB was elected for auditing purposes of financial statements of 2019 and 2020 years.  

The General Director of the company was authorized (with the right to delegate) to sign the agreement with the audit firm by establishing the terms of payment for the audit services and other terms.

Please note that this reduction of the Company's authorized capital does not affect the Company's operations or solvency, but is merely a technical adjustment of the Company's equity structure to comply with the provisions of the Law on Companies of the Republic of Lithuania. As a result of this adjustment, neither the size of the equity of the Company nor the size of the assets of the Company is affected.

Managing Director

Gediminas Čeika

Attachment