Regarding the approval of a peaceful settlement agreement and the termination of civil proceedings

On 18 July 2018, the Supreme Court of Lithuania approved the peaceful settlement agreement concluded between Žemaitijos pienas, AB and the Investors’ Association and Vytautas Plunksnis. Under the peaceful settlement agreement, the plaintiffs – the Investors’ Association and Vytautas Plunksnis – waived filing an appeal in cassation and claims expressed in the action brought, and the Company waived claims expressed in the action brought and the civil proceedings initiated. After the court has confirmed the peaceful settlement agreement between the parties, the dispute between the parties was closed and the civil proceedings were terminated. The essence of the former dispute was the plaintiff’s claim to declare invalid part of the decisions of the general shareholders’ meetings of 28 October 2016 and 29 December 2016, which established the procedure for the sale of the defendant’s own shares and the minimum selling price, as well as the request to reduce the authorized capital of the company.

Gintaras Keliauskas

Lawyer