Supplemented agenda of the Annual Shareholders Mee

Utena, Lithuania, 2017-04-14 09:00 CEST (GLOBE NEWSWIRE) -- On 11 April 2017 the Board of the Company AB “Utenos trikotažas” decided to supplement the agenda of the Annual Shareholders Meeting that is to be held on 26 April 2017, with the following questions:

• Regarding approval of the new version of the Regulations of the Audit Committee

The draft resolution: To approve the new version of the Regulations of the Audit Committee of AB “Utenos trikotažas” (enclosed).

• Regarding election of the Audit Committee members

The draft resolution: To elect to the Audit Committee of AB “Utenos trikotažas” 2 (two) independent members for the new 4 (four) years term of office: Genadij Makušev and Arvydas Dalikas. To elect Genadij Makušev as Chairman of the Audit Committee.

• Regarding approval of the remuneration for the Audit Committee members

The draft resolution: For a work in the Audit Committee of AB „Utenos trikotažas“, to set a rate of EUR 90 (ninety euros) per session hour for each independent member of the Audit Committee, but not higher than EUR 270 (two hundred seventy euros) for the full one session of the Audit Committee. These amounts do not include personal income tax and compulsory health insurance contributions which AB “Utenos trikotažas” calculates and pays at its own expense in accordance with the requirements of legislation.

• Regarding extension of the agreement with the audit company and approval of the remuneration for the audit services

The draft resolution: To extend the agreement concluded with UAB "ERNST & YOUNG BALTIC" (identification code 110878442, the registered address: Subačiaus str. 7, Vilnius) for the audit of AB “Utenos trikotažas” financial statements for 2017.  To approve the annual remuneration for the audit services EUR 15 300 (fifteen thousand three hundred euros) plus VAT.

Attachments:

1.     Regulations of the Audit Committee

2.     Introducing of the Audit Committee members

3.     Audit Committee report for year 2016

For more information please contact Mr. Algirdas Šabūnas, Managing Director of AB Utenos trikotažas, tel. No. 370 389 51445.

Managing Director AB “Utenos trikotažas” Algirdas Šabūnas