Regarding the opinion of the Audit Committee and conclusion of the transaction with the related party
AB “Pieno žvaigždės” (code 124665536, registered at the address Perkūnkiemio str. 3, Vilnius, Lithuania; hereinafter, the “Company”), informs that on 16th April 2020 the opinion of the Audit Committee of the Company was received regarding the intended conclusion of the transaction between the Company and its related party (general manager of the Company Aleksandr Smagin; hereinafter, the “Related Party”) – the loan agreement according to which the loan, provided to the Related Party, equal to EUR 500,000 (five hundred thousands) euro until 1st July 2024.
In the opinion of the Audit Committee, which is provided, taking into consideration the criterion and arguments, indicated that the foreseen Loan Agreement are in line with market practice, are reasonable and just vis-a-vis the Company and its shareholders, who are not party to the Transaction.
Part 6 of the Article 37(2) of the Law on Companies of the Republic of Lithuania establishes obligation to the Company to enable the shareholders to familiarize with the aforementioned opinion at the registered office of the Company. At the request of the shareholder provided in written or by electronic means, at the latest within 3 days from the receipt of the request, the Company shall provide a copy of the opinion to the shareholder upon signature or by registered mail or by electronic means, if the security of the transferred information is ensured and the shareholder's identity can be established. The shareholder can also get acquainted with the opinion received at the head office of the Company at Perkūnkiemio str. 3, Vilnius.
On 16th April 2020 the Board of the Company approved conclusion of the Loan Agreement with the Related Party. Loan maturity term until 1st July 2024, the annual interest rate under the Loan Agreement - 5.83% (according Bank of Lithuania published interest rates of “Loans granted to euro area households for other purposes – interest rates on new business”)
Audrius Statulevičius
CFO
