Zemaitijos Pienas: Regarding the Decision of the Supervisory Service of the Bank of Lithuania

Telsiai, Lithuania, 2018-03-01 16:20 CET (GLOBE NEWSWIRE) --

AB Žemaitijos pienas (hereinafter - the Company) has received Decision No.
241-38 of 28 February 2018 of the Director of the Supervisory Service of the
Bank of Lithuania 'Regarding the application of enforcement measures upon AB
Žemaitijos pienas' (hereinafter - the Decision). For the purpose of fulfilling
the obligations set forth in the Decision the Company hereby publishes the
Notice and discloses the information referred to in Item 4 of the operative
part of the Decision (see the Annex to the present Notice). 

Regarding Item 4 of the operative part of the Decision: The annual financial
statements for 2017 were drawn up and published within the terms set forth in
laws of the Republic of Lithuania. 

The Company disagrees with the Decision of the Director of the Supervisory
Service of the Bank of Lithuania, and believes that the failure to comply with
formal requirements was caused by a difference in the interpretation of legal
requirements, therefore the Company will appeal the Decision in the manner set
forth by legal acts. 

It should be noted that the Supervisory Service of the Bank of Lithuania
indicated that: 

  1. no instance of illegal generating of revenues had been established;
  2.  having familiarised itself with the conclusion of the investigation the
     Company did correct some irregularities regarding the disclosure of
     information, and took measures to improve the performance in this respect;
  3.  no circumstances aggravating liability have been established.


         Lawyer
         J.Jarmontovic
         8 444 22308

Attachment:
https://cns.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=666710