Notification on material event
The Board approved financial statements for the year 2015 and convokes the Annual General Meeting of Shareholders’
On 8 April 2016 the Board of AB Vilkyškių pieninė (hereinafter “AB Vilkyškių pieninė” or “the Company”) decided:
- To approve the draft of the audited annual separate d and consolidate financial statements of the Company for the year 2015 and to propose to the Company’s Annual General Meeting of Shareholders to approve the draft of the Company’s annual separate and consolidated financial statements for the year 2015.
- To approve the Company’s Consolidated Annual Report for the year 2015, prepared by the Company and assessed by the auditors, and to propose to the Company’s Annual General Meeting of Shareholders to approve Company’s Consolidated Annual Report.
- Management Board of The Company , taking into consideration implementation of Company‘s 26 million EUR whey processing facility CAPEX program, has recomended to the General Meeting of Shareholders not to pay dividends on 2015 earnings. Management Board of the Company believes, that realization of the Project is expected to improve Company‘s competetive position and positively effect finacial results of the Group and it‘s dividend payouts in long term.
Management Board would also like to emphasize, that Company plans to stick to Companies approved dividend policy, as Project implementation is finished.
- To approve a decision with regard to the purchase of own shares and to propose to the Company’s Annual General Meeting of Shareholders to approve:
a) To purchase up to 10 percent of the Company’s shares.
b) The purpose of acquisition of own shares – to maintain and increase the price of the Company’s shares.
c) Period during which the Company may acquire own shares – until 28 April 2017.
d) To set the maximum price per share of own shares to be acquired – at 2.10 EUR, at the same time setting the minimum acquisition price per share equal to the nominal value of a share, i.e. 0.29 EUR.
e) To commit the Board to organize the purchase of own shares, to determine the procedure for purchase and sale of shares, time, number of shares and price, as well as to perform other actions relating thereto in compliance with the terms set in this resolution as well as in accordance with the requirements established in the Republic of Lithuania Law of Companies.
- To convoke the Annual General Meeting of Shareholders at the office of Vilkyskiu pienine AB (P.Lukošaičio g. 14, Vilkyškiai, LT-99254 Pagėgių sav., Lithuania), at 13.00 on 29 April 2016, and to propose to the Annual General Meeting of Shareholders’ the following draft agenda:
1) Company's consolidated annual report for the year 2015.
2) Company's auditor's report of 2015 (financial accountability).
3) Approval of Company's annual separate and consolidated financial statements for the year 2015.
4) Net Profit appropriation of the year 2015.
5) Regarding the purchase of own shares.
6) Election of the company's audit firm for the year 2016, 2017 and 2018 and setting the conditions of payment.
7) Election of the independent member of Audit Committee.
Economics and Finance director
phone +370 441 55102