Vilnius, Lithuania, 2011-03-04 14:14 CET (GLOBE NEWSWIRE) -- On March 4, 2011 during the extraordinary general shareholders meeting of LITGRID Turtas AB (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 collected and stored at Vilnius branch of VI Registrų Centras, Division of Registry of Legal Entities), the following resolutions were adopted:
1. Regarding changing of the name of LITGRID Turtas AB.
RESOLUTION ADOPTED:
"1. To change the name of LITGRID Turtas AB to LITGRID AB"
2. Regarding revision of Articles of Association of the Company.
RESOLUTION ADOPTED:
"1. To revise the Articles of Association of the Company and formulate them in a new revision (attached).
2. To authorize the Chief Executive Officer of the Company to sign a new revision of the revised Articles of Association of the Company. To authorize the Chief Executive Officer of the Company, under requirements established by legal acts, to submit to the notary, Register of Legal Entities of the Republic of Lithuania and other subjects, the new revision of the Articles of Association of the Company and other necessary information and documents, to perform, under procedure established by legal acts, all necessary actions regarding the registration of the revised Articles of Association of the Company in the Register of Legal Entities of the Republic of Lithuania, also to perform all other actions, related to the implementation of this resolution, by endowing the Chief Executive Officer of the Company with a right to re-authorize other persons for the performance of actions indicated in this resolution within full scope."
3. Regarding establishment of the Audit Committee of the Company and approval of Activity Regulations
RESOLUTION ADOPTED:
„1. To establish the Audit Committee of the Company.
2. To compose the Audit Committee of 3 (three) members, one of which is independent.
3. To define that the term of office of the Audit Committee shall be 2 (two) years.
4. To approve the Activity Regulations of the Audit Committee (attached).”
4. Regarding election of members to the Audit Committee of the Company
RESOLUTION ADOPTED:
"1. To elect to the Audit Committee of the Company the following persons:
Mr. Valdas Cicėnas – as an independent member;
Mr. Darius Zagorskis;
Mr. Edvinas Krasauskas.
2. To authorize the Management Board of the Company to define the annual fee amount and payment procedure for the independent member of the Audit Committee.”
Vilija Railaitė
Head of Communications
Phone +370 5278 2361
Mobile +370 613 19977
E-mail vilija.railaite@litgrid.eu
