Vilnius, Lithuania, 2016-04-26 15:11 CEST (GLOBE NEWSWIRE) -- On April 26, 2016, during the ordinary general of Litgrid shareholders (legal entity code 302564383, legal status – public company, registered address: A. Juozapavičiaus g. 13, Vilnius city, Vilnius City Municipality, the Republic of Lithuania, data about the company are accumulated and stored at the Vilnius branch of the State Enterprise Centre of Registers, Division of Legal Entities) the following decisions were made:
1. Approval of the Consolidated Annual Report for 2015.
DECISION:
“To approve the Consolidated Annual Report on Corporate and the Litgrid Group of Companies Operation in 2015.” (Annex No. 1)
2. Presentation of an independent auditor’s findings.
The issue does not require decisions. (Annex No. 1)
3. Approval of the set of Consolidated and Corporate Financial Report 2015.
DECISION:
“To approve the set of Consolidated and Corporate Financial Report of Litgrid 2015". (Annex No. 1)
4. Distribution of corporate profit (loss) 2015.
DECISION:
“To approve the proposed distribution of corporate profit (loss) of Litgrid 2015.” (Annex No. 2)
5. Approval of the new edition of Litgrid Articles of Association.
DECISION:
“5.1. To approve the new edition of Litgrid Articles of Association (Annex No. 3).
5.2. To authorize the Litgrid CEO Daivis Virbickas sign the new edition of Litgrid Articles of Association and personally or through an authorized person to carry out any action in relation to its approval and registration in Lithuanian Register of legal entities according to the laws.”
According to General Director of EPSO-G Rolandas Zukas, renewed Litgrid Articles of Association will ensure more efficient and transparent management of the company.
“Amendments in the Articles of Association adjust the powers of the Board, enhance supervisory and control functions. A new mixed model of the Board was validated, meaning the Board will consist of two members from Litgrid, two members from holding company EPSO-G and one independent member. This will ensure the quality and transparency of Board decisions. In addition, Company’s goals were reviewed and updated, including the long-term strategic goals”, - said Mr Zukas.
EPSO-G General Director Rolandas Zukas stressed that in order to create the preconditions for the consistent management of the group companies, the Articles of Association of other major EPSO-G companies - Lithuanian natural gas transmission system operator Amber Grid and energy exchange operator Baltpool - were standardized as well.
Information on aforementioned decisions is also available on Litgrid website http://www.litgrid.eu as well as in Litgrid headquarters (A. Juozapavičiaus g. 13, Vilnius) during business hours (7.30-11.30 and 12.15-16.30, on Fridays 7.30-11.30 and 12.15-15.15).
Attachments:
1. Consolidated and Company's Financial Statements for 2015, presented together with Independent Auditor's Report and Consolidated Annual Report;
2. Distribution of Corporate Profit (Loss) 2015;
3. New edition of Litgrid Articles of Association;
4. Informational Notice.
Vilija Railaitė
Litgrid Head of Communications
Tel. +370 613 19977
E-mail: vilija.railaite@litgrid.eu
