Resolutions of the Extraordinary Meeting of AB „Snaigė“ shareholders - Seite 2

Taking into account that before this decision (07-07-2020) the Company did not take any actions and the Company's shareholders did not make any decisions related to the reduction of the Company's authorized capital and transfer of the respective amount to the Company's revaluation reserve according the decision No. 241-19 dated 29 January 2018 adopted by the director of the Supervision Service of the Bank of Lithuania, that is there are no legal obstacles for the Company's shareholders the decision of 1 October 2018 to change and to make new decision on the same issue.
The decision on the reduction of authorized capital shall be worded as follow:
To reduce the authorized capital of the Company from EUR 10 301 822,70 50 till EUR 6 735 807,15 according 52 article 2 part 4 point of Law on Companies of Lithuanian Republic. The authorized capital will be reduced by EUR 3 566 015,55.
The authorized capital is reduced by reducing nominal value of existing shares by 0,09 euro per share from EUR 0,26 till EUR 0,17. The authorized capital is reducing in order to correct mistakes made during the formation of the authorized capital or during the increasing authorized capital, related to the use of the Company's revaluation reserve and specified in the decision No. 241-19 dated 29 January 2018 on imposition of certain measures with respect to AB Snaigė, adopted by the director of the Supervision Service of the Bank of Lithuania.
To approve changes of points 4.1 and 5.1 of the article of association related with the reduction of the authorized capital and approve the new redaction of the changed articles of association (addition):
4.1. The authorized capital of the Company is EUR 6 735 807,15 (six million seven hundred thirty five thousand eight  hundred seven euro and 15 eurocents).
5.1. The authorized capital of the Company is divided into 39,622,395 (thirty nine million six hundred twenty two thousand three hundred ninety five) shares. The nominal value of one share is EUR 0,17 (seventeen eurocents).
The amount by which is reduced the authorized capital of the Company, i. e. EUR 3 566 015,55 to transfer to revaluation reserve.
To authorize the General Manager of the Company Mindaugas Sologubas (with the right to reauthorize) to perform all necessary actions relating to implementation of approved decisions by the extraordinary shareholders meeting and to sign changed articles of association.”

This change of authorized capital does not affect the Company's financial results or solvency.

The General Director
Mindaugas Sologubas
Phone: [phone]

Attachment

• AB Snaige akcininku patvirtinta istatu redakcija_Articles of association approved by shareholders_2020-07-07_LT_ENG