Resolutions of the General Meeting of Shareholders

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| Source: Snaige
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Alytus, Lithuania, 2014-04-18 15:19 CEST (GLOBE NEWSWIRE) -- The General Meeting of shareholders of Snaige AB was held on 18 April 2014.

 At the meeting was made following resolutions:

  1.  THE AGENDA QUESTION: Consolidated annual report of “Snaigė” AB on the company’s activity for 2013.

In the meeting was taken for information the consolidated annual report of “Snaigė” AB on the company’s activity for 2013.

  1. THE AGENDA QUESTION: Auditor’s conclusion on the company’s financial statements for 2013.

In the meeting was taken for information with the auditor’s conclusion on the company’s financial statements for 2013.

  1. THE AGENDA QUESTION:  Approval of the set of financial statements of the company for 2013.

THE DECISION: The set of financial statements of the company for 2013 has been approved.

  1. THE AGENDA QUESTION:  Approval of distribution of profit (loss) of “Snaigė” AB for 2013.

THE DECISION: The distribution of profit (loss) of “Snaigė”,AB for 2013 has been approved:

Non-distributed profit (loss) at the end of the last financial year 1,397,544
Net result - profit (loss) of financial year -22,872,048
Distributable result- profit (loss) of financial year -21,474,504
Transfers from reserves 5,009,000
for social and cultural needs 30,000
for investments 4,979,000
Transfers from reserve foreseen by law 0
Transfers from reserve of share premium for covering of loss 5,698,656
Contributions of shareholders to cover loss 0
Distributable profit (loss) -10,766,848
Distribution of profit (loss) 0
Portion of profit allocated to reserves foreseen by law 0
Portion of profit allocated  to other reserves 0
for support and charity 0
for social and cultural needs 0
Portion of profit allocated for payment of dividends 0
Portion of profit allocated for payment of premiums 0
Portion of profit allocated for payment of tantiemes 0
Other: 0
portion of profit allocated to reserve for acquisition of own shares 0
portion of profit allocated to reserve for investments 0
Non-distributed result - profit (loss) at the end of financial year -10,766,848

5. THE AGENDA QUESTION:  Election of the audit firm for auditing purposes of financial statements and establishment of terms regarding the payment for audit services.

THE DECISION: UAB “KPMG Baltics” has been elected for 2014 auditing purposes of annual financial statements.

The General Director of the company was authorized (with the right to delegate) to sign the agreement with the audit firm by establishing the terms of payment for the audit services and other terms.

 

Attached:

Audited consolidated and Company’s financial statements together with independent auditor‘s report, consolidated annual report.

         Generalinis direktorius
         Gediminas Čeika
         +370 315 56206