Cancellation of treasury stocks


On 9 September 2010, Lithuanian Central Depository of Securities amended TEO
LT, AB (hereinafter TEO or “the Company”) ordinary registered shares' (ISIN
code LT0000123911) issue registration account: issue was reduced to 776,817,518
ordinary registered shares of 1 litas par value each by cancelling 38,095,242
ordinary registered shares held by the Company by the ownership right (treasury
stocks). 

On 26 April 2010 the Annual General Meeting of shareholders decided to cancel
38,095,242 shares held by the Company by the ownership right (treasury stocks)
and to reduce by the amount of cancelled shares (38,095,242 litas) the
authorised shares capital of the Company from 814,912,760 litas to 776,817,518
litas, and accordingly to amend the By-laws of the Company to specify the
reduced amount of the authorised share capital - 776,817,518 litas. 

The purpose of reduction of the Company's authorised share capital -
cancellation of the Company's treasury stocks. The Company's authorised share
capital shall be reduced by way of annulment of the Company's treasury stocks. 

Treasury stocks that amounted to 4.67 per cent of the total number of the
Company shares were acquired during the Initial Public Offering (IPO) in year
2000 and they had no rights to exercise any proprietary and non-proprietary
rights provided by the Law of the Republic of Lithuania on Companies. 

On 3 September 2010, the Register of Legal Persons registered a new wording of
the By-laws of TEO LT, AB and reduced to 776,817,518 litas the authorised share
capital of the Company, which consist of 776,817,518 ordinary registered shares
of 1 litas par value each. 

Upon cancellation of treasury stocks number of the Company's shares that
provide voting rights during the General Meeting of Shareholders remains
unchanged (treasury stocks did not provide any voting rights) and is
776,817,518. 

Upon cancellation of treasury stocks part of shareholders' shares from the
total number of shares has changed: it increased and became equal to the part
of votes possessed before cancellation of treasury stocks. Thus, Amber
Teleholding A/S part of shares increased from 60 to 62.94 per cent, TeliaSonera
AB (publ) - from 4.90 to 5.14 per cent, State of Lithuania, represented by
State Property Fund (data as of 9 September 2010), - from 0.38 to 0.40 per
cent, and etc. 


Darius Džiaugys, 
Head of Information Sector, 
tel. +370 5 236 7878