3a

From Ibc

Annual reporting by companies in Lithuania / Portugal.

Lithuanian public limited companies must prepare an annual reporting once a year, in conformity with data of the last day of financial year. In Lithuania, companies in the main list are required to prepare IFRS financial statements, while companies on the current list are permitted to apply IFRS when preparing separate accounts.

There is the only regulated securities market in Lithuania, offering trending, listing and information services, it is called Vilnius Stock Exchange (VSE). VSE is a part of OMX, which offers access to approximately 80 percent of the Nordic and Baltic securities market. OMX is a leading expert in the exchange industry.

The Lithuanian National Stock exchange has pressed forward and all companies now present English language financial statements. It is encouraged to require more consistent information from companies and require companies to prepare EURO financials.

For example, NSEL 30 Index fund – the first Lithuanian investment fund and the share price (distribution price) is 3 802, 43 Lt that is about 1 101, 26 € (1 EURO = 3, 4528 litas).