On 25 March 2010 the Board of TEO LT, AB (hereinafter TEO or “the Company”)
decided:
- To approve the draft of annual financial statements of the Company and
consolidated group for the year 2009, prepared according to International
Financial Reporting Standards, and to propose to the Company's Annual General
Meeting of Shareholders to approve the draft set of the audited annual
financial statements of the Company for the year 2009.
Audited financial results of TEO Group for the year 2009 are the same as on 10
February 2010 announced results for the twelve months of 2009: consolidated TEO
Group revenue for the year 2009 amounted to LTL 815,551 thousand (EUR 236,200
thousand) and profit for the period was LTL 169,072 thousand (EUR 48,967
thousand).
- To approve the Company's Consolidated Annual Report for the year 2009,
prepared by the Company and assessed by the auditors, and to present the
Consolidated Annual Report of the Company for information to the Company's
Annual General Meeting of Shareholders.
- To approve the draft of the Company's profit allocation for the year 2009 and
to propose for the Annual General Meeting of Shareholders to allocate the
profit according to the draft of the profit allocation: from the Company's
distributable profit of LTL 166,075 thousand (EUR 48,099 thousand) to allocate
LTL 163,132 thousand (EUR 47,246 thousand) for the dividend payment for the
year 2009 or LTL 0.21 (EUR 0.061) dividend per share. For annual payments
(tantiemes) to seven members of the Board for the year 2009 to allocate LTL 378
thousand (EUR 109 thousand), i.e. LTL 54 thousand per one member of the Board.
- To convoke the Annual General Meeting of Shareholders in TEO LT, AB
headquarters, at room 157, Savanorių ave. 28, Vilnius, Lithuania, at 13.00 on
26 April 2010, and to propose to the Annual General Meeting of Shareholders'
the following draft agenda:
1. Information of the Company's auditor.
2. Approval of the annual financial statements of the Company and consolidated
group annual financial statements for the year 2009 and presentation of the
consolidated annual report of the Company for the year 2009.
3. Allocation of the profit of the Company of 2009.
4. Election of the Company's auditor.
5. Annulment of the Company's treasury shares.
6. Sale of the Company's treasury shares.
7. Reduction of the Company's authorised capital.
8. Amendments to the By-laws of the Company.
9. Regarding the Company's registered office address.
10. Election of the Company's Board member.
11. Regarding implementation of decisions.
- To propose to the Annual General Meeting of Shareholders to elect UAB
PricewaterhouseCoopers as the Company's audit enterprise for two years to
perform the audit of the financial statements of the Company and group
consolidated financial statements for the year 2010 and 2011, and to make the
assessment of the consolidated annual reports of the Company for the year 2010
and 2011.
- To propose to the Annual General Meeting of Shareholders to consider two
alternative proposals regarding treasury shares: (1) regarding cancelation of
treasury shares and related to that reduction of the Company's authorised share
capital and amendment of By-laws, and (2) regarding sale of treasury shares.
- To propose to the Annual General Meeting of Shareholders to amend the By-laws
of the Company.
- Instead of Anders Gylder who resigns from the Board as of 26 April 2010, it
is proposed to the Annual General Meeting of Shareholders to elect Malin
Frenning to the Board of the Company for the current term of the Board. Malin
Frenning (born in 1967) is Deputy Head of Business Area Broadband Services at
TeliaSonera AB (publ) (Sweden).
Anders Gylder (born in 1950), a President of Business Area Broadband Services
at TeliaSonera AB (publ) (Sweden), is member of the Board of TEO LT, AB from 26
April 2007, re-elected for the two-year term on 28 April 2009, member of
Remuneration Committee of the Board.
ENCL.:
- Drafts of TEO LT, AB Financial Statements, Consolidated Annual and
Independent Auditor's Reports for the year ended 31 December 2009.
Egle Gudelyte-Harvey,
Director of Corporate Administration and Legal Affairs Unit,
tel. +370 5 236 7292
