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AB Akola Group

Legal Proceedings Report • Aug 28, 2015

2261_iss_2015-08-28_995604e5-cdc7-4fe0-8a97-bf1ef02032b8.html

Legal Proceedings Report

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Disclosure 326628

Linas - Notification on material event

AB “Linas” Group of companies’ partial change of activity

Panevezys, Lithuania, 2015-08-28 09:07 CEST (GLOBE NEWSWIRE) -- On August 28, 2015 the director of UAB “Lino apdaila” Nijole Sventickiene has informed the Board of AB “Linas” about the notice of UAB “Verslo dizainas” regarding the unilateral breach of equipment rent contract from 08-10-2015. After the evaluation of this information the Board decided: 1.To continue AB Linas activity organizing creation of textile items, sewing services and sales, without in-house production of fabrics. 2.Production of fabrics previously provided in-house are to be contracted out with external partners. 3.To negotiate with UAB “Verslo dizainas” regarding the retain of weaving and finishing employees work places and transfer, and to secure their social guarantees. AB “Linas” director Saulius Sidlauskas +370 45 506100