Regarding the Compliance With the Obligations Imposed by the Bank of Lithuania

Please be informed that in order to comply with the obligation imposed by the Decision of the Director of the Supervision Service of the Bank of Lithuania No. 241-38 of 28 February 2018 "On of the Application of Sanctions to Žemaitijos pienas, AB :

1. The Company preparing consolidated financial statements 2017, retrospectively corrected its financial statements in accordance with IAS 39 – Financial Instruments: Recognition and. Measurement.
2. The Company reviewed the residual values and useful lives of all non-current tangible assets in accordance with IAS 16 – Property, Plant and Equipment, considered and, if necessary, revised the useful lives and residual values of all non-current tangible assets. Reviewed, considered and revised useful lives and residual values will be applied in preparation of the financial statements2018.

Gintaras Keliauskas
Lawyer
+ 370 444 22208