Notice on the convened repeat Extraordinary General Meeting of Shareholders of AB Klaipedos nafta

Notice on the convened repeat Extraordinary General Meeting of Shareholders of AB Klaipedos nafta

We hereby inform you that AB Klaipedos nafta, legal entity code 110648893, registered address at Buriu str. 19, Klaipeda (hereinafter - the Company), repeat Extraordinary General Meeting of Shareholders of the Company was convened on 18 July 2019 at 1:00 p.m. The meeting was held in the registered office of the Company at Buriu str. 19, Klaipeda.

Repeat Extraordinary General Meeting of Shareholders of the Company, held on 18 July 2019, adopted the following resolutions:

1. Regarding the approval of the decision of AB Klaipedos Nafta’s Board to transfer liquefied natural gas terminal activities to subsidiary UAB SGD terminalas:

„Considering the fact that there is no legal and actual possibility to perform transfer of the liquefied natural gas terminal activities to subsidiary UAB SGD terminalas under the independent property evaluation report by the company Uzdaroji akcine bendrove korporacija "Matininkai", code 121913439, dated 01-02-2019, because 6 months period has expired from the date of property valuation (31-12-2018), to postpone the consideration of the issue until the required valuation on investment in subsidiary UAB SGD terminalas is received.”

2. Regarding the approval of the decision of AB Klaipedos Nafta’s Board to provide parent company guarantee for performance of obligations of UAB SGD terminalas under the time charter party agreement:

“Taking into account that the decision was taken to postpone the approval of decision on transfer of the liquefied natural gas terminal activities, to postpone consideration of the issue of the provision of parent company guarantee of AB Klaipedos Nafta in favour of UAB Hoegh LNG Klaipeda and HÖEGH LNG LTD for performance of obligations of UAB SGD terminalas until the decision on transfer of the liquefied natural gas terminal activities to subsidiary UAB SGD terminalas will be adopted.”

3. Regarding the amendment of the Articles of Association of AB Klaipedos Nafta:

“Considering that the issue of performance of transfer of the liquefied natural gas terminal activities is postponed, to postpone the consideration of amendment Articles of Association of AB Klaipedos Nafta and the approval of the new wording until the decision on transfer of the liquefied natural gas terminal activities to subsidiary UAB SGD terminalas will be adopted.”

Jonas Lenkšas, Chief Financial Officer, tel.: +370 694 80594

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