We hereby inform you that on the initiative and by the decision of the Board of AB Klaip?dos nafta, code 110648893, registered at Buri? st. 19, Klaip?da (hereinafter, the “Company”), an extraordinary general meeting of shareholders of the Company was convened on 28 March 2014 at 9.00 a.m. The meeting was held in the registered office of the Company at Buri? st.19, Klaip?da.
Agenda of the meeting:
On approving the resolution of the Board of AB Klaip?dos Nafta to approve the conclusion of the Novation Agreement, under which part of the rights and obligations vested in Höegh LNG Ltd. under the Agreement on the Lease, Operation, and Maintenance (Repair) of the Liquefied Natural Gas Floating Storage and Regasification Unit (hereinafter, the FSRU) with the FSRU Purchase Right shall be assigned to Hoegh LNG Klaip?da, UAB.
Decisions adopted:
On approving the resolution of the Board of AB Klaip?dos Nafta to approve the conclusion of the Novation Agreement, under which part of the rights and obligations vested in Höegh LNG Ltd. under the Agreement on the Lease, Operation, and Maintenance (Repair) of the Liquefied Natural Gas Floating Storage and Regasification Unit (hereinafter, the FSRU) with the FSRU Purchase Right shall be assigned to Hoegh LNG Klaip?da, UAB:
“To approve of the resolutions of the Board of AB Klaip?dos Nafta:
1. In performance of the Agreement on the Lease, Operation, and Maintenance (Repair) of the Liquefied Natural Gas Floating Storage and Regasification Unit (hereinafter, the FSRU) for the Term of 10 Years with the FSRU Purchase Right (hereinafter, the Agreement), concluded on 2 March 2012 with Höegh LNG Ltd., the winner of the public procurement organised by AB Klaip?dos Nafta “Acquisition of the liquefied natural gas floating storage with regasification unit”, to approve that the General Manager of AB Klaip?dos Nafta, in compliance with the provisions of the Agreement, would enter into the Novation Agreement (hereinafter, the Novation Agreement), by which a part of rights and obligations of Höegh LNG Ltd. under the Agreement, except for the rights and obligations related to the right of AB Klaip?dos Nafta to purchase the FSRU, would be assigned to Hoegh LNG Klaip?da, UAB, a company indirectly fully controlled by Höegh LNG Ltd.
2. To determine that the above-indicated Novation Agreement regarding assignment of rights and obligations under the Agreement can be concluded only in case Höegh LNG Ltd. remains jointly and severally liable for all obligations assigned to Hoegh LNG Klaip?da, UAB.
3. To establish, that these decisions of the Board shall become effective after the approval by the General Meeting of the Shareholders of the Company, as it is provided in Article 16.10 of the Bylaws of the Company.”
Director of Finance and Administration Department, Mantas Bartuška, (+ 370 46) 391 763
