On completion of the audit of financial statements for 2012, it was established that the losses of the Company for 2012 amount to LTL 33.0 million (EUR 9.5 million) and differ from the preliminary result disclosed on 28 February (losses of LTL 28.0 million (EUR 8.1 million)).
The difference between the preliminary and audited losses resulted from the revaluation of part of non-current assets during the audit (value of all non-current assets decreased from LTL 138 621 594 (EUR 40 147 589) to LTL 133 621 594 (EUR 38 699 489).
According to the Law on Companies of the Republic of Lithuania, equity of the company cannot be lesser than one half of the authorised capital of the company.
According to the audited financial statements of the Company for 2012, equity of the company, as of 31 December 2012, amounted to LTL 8 557 804 and is lesser than one half of the authorised capital of the Company (LTL 10 million). Accordingly, the annual general meeting shall be asked to consider the issue of restoration of ratio between equity and authorised capital to the ratio required by law.
Mindaugas Petrauskas
Executive Director
Tel. +370 46 340001 ext. 713