Information received

The State Tax Inspectorate under the Ministry of Finance informed Panevezio statybos trestas AB (the Company) about resuming coordination of the settlement agreement terms regarding payment arrangements for the fine imposed by the Competition Council and submitted the proposed terms of the settlement agreement to the Company. The Company expects the settlement agreement to be concluded in the nearest future.

Furthermore, the Company received the information that on the basis of the arrangement by the Bailiff had decided to levy a distraint upon the funds of the Company in the banks for the amount of the fine imposed by the Competition Council due. Currently, the settlement agreement is in the process of negotiations regarding payment arrangements for the fine with the debt collector, the State tax Inspectorate, and the debt collector has not expressed a request to collect the entire remaining amount due without delay. The Company informed both the State Tax Inspectorate under the Ministry of Finance and the Bailiff about the ambiguity of the situation itself. After a relevant application is submitted to the State Tax Inspectorate, the accounts of the Company should be released from the distrained in the nearest future  request, the seizure of the Company's accounts should be lifted in the closest time.

More information:

Egidijus Urbonas

Managing Director

Tel.: (+370 45) 505 503