Resolutions of Annual General Meeting of Shareholders

The following resolutions have been adopted at the Annual General Meeting of Shareholders of Panevezio statybos trestas AB taken place on 29 April 2020:

1.      The conclusions of the audit regarding the Financial Statements and Annual Report of the Company for the year 2019.

The shareholders have familiarized themselves with the information.

2.      The Annual Report of the Company for the year 2019.

The shareholders have familiarized themselves with the information.

3.      Approval of the set of Financial Statements of the Company for the year 2019.

The Consolidated and Individual Financial Statements of Panevezio statybos trestas AB for the year 2019, which have been prepared in accordance with the International Financial Reporting Standards as adopted by the European Union and are submitted together with the independent auditor’s opinion, have been approved.

4.      Appropriation of profit (loss) of the Company.

The following appropriation of profit (loss) of Panevezio statybos trestas AB has been approved:

Unappropriated profit (loss) of the previous financial year at the end of the accounting financial year – 26,656,711 EUR;

Dividends paid – 0 EUR;

Net profit (loss) of the accounting financial year – 590,332 EUR;

Profit (loss) of the accounting financial year unrecognized in profit (loss) statement – 133,420 EUR;

Transfers from reserves – 745,069 EUR;

Contributions of shareholders to cover the loss of the Company (in case of the shareholders’ decision to cover all or a part of loss) – 0 EUR;

Total profit (loss) available for appropriation – 28,125,532 EUR;

a part of profit to the legal reserve – 0 EUR;

a part of profit to the reserve for the acquisition of own shares – 0 EUR;

a part of profit to other reserves – 0 EUR;

a part of profit for dividend paying – 490,500 EUR;

a part of profit for bonuses (tantiemes) for the members of the Board and Supervisory Board, premium pays for employees and other purposes – 118,065 EUR;

Unappropriated profit (loss) at the end of the accounting financial year transferred to the next financial year – 27,516,967 EUR.

To dividends in the amount of 0.03 EUR have been allocated for each ordinary share of Panevezio statybos trestas AB of the nominal value of 0.29 EUR.

5.      Election of the members to the audit committee.

The following members to the audit committee have been elected:

• Drasutis Liatukas (as an independent member);
• Irena Kriauciuniene (as an independent member);
• Egle Grabauskiene.

 6.      Approval of Remuneration Policy of the Company.

The Remuneration Policy for Top and Middle Management Staff of Panevezio statybos trestas AB (attached) according to Subparagraph 1 Paragraph 3 Article 37 of the Law on Companies of the Republic of Lithuania has been approved.

Dalius Gesevicius

Managing Director

Panevezio statybos trestas AB

Information

Phone: (+370 45) 505 503

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