Vilnius, Lithuania, 2014-09-09 17:38 CEST (GLOBE NEWSWIRE) -- AB Lietuvos Dujos, legal entity code: 120059523, head office address: Aguonų g. 24, LT-03212 Vilnius, (hereinafter - the Issuer) hereby informs that on 4 September 2014, it received requests of minor shareholders[1] regarding the mandatory purchase - sale of ordinary registered shares of AB Lietuvos Dujos.
In accordance with the provisions of Article 37 of the Law on Securities (hereinafter referred to as “The Law”), minor shareholders request that Lietuvos Energija, UAB, legal entity code: 301844044, office address: Žvejų g. 14, Vilnius, which owns 96.64 percent of all shares and votes in the General Meeting of Shareholders of the Issuer, redeem from them the shares of the Issuer owned by them at a price applicable during the take-over bid, i.e. EUR 0.653 per one ordinary registered share.
Lietuvos Energija, UAB currently owns 280,930,066 ordinary registered shares granting 280,930,066 votes in the General Meeting of Shareholders of the Issuer.
The Issuer hereby reminds the shareholders and informs that:
On 2-16 June 2014, Lietuvos Energija, UAB, submitted an official mandatory non-competitive bid regarding the buyout of the Issuer’s shares. During the mandatory official bid, Lietuvos Energija, UAB, purchased 40.03 per cent of all shares and votes of the Issuer from other shareholders of the Issuer. Given the fact that following the implementation of the take-over bid Lietuvos Energija, UAB, has acquired shares of the Issuer granting at least 95 percent of all votes in the Issuer General Meeting of Shareholders, in accordance with the provisions of Article 37 of the Law, the minority shareholders of the Issuer acquired the right to require that Lietuvos Energija, UAB, also buy out their shares for the price which is the same as the one paid during the take-over bid, i.e. EUR 0.653 per one ordinary registered share of the Issuer.
Pursuant to Article 37(3) of the Law, such a right of the shareholders may be initiated within 3 months from the implementation day of the mandatory take-over bid. Taking into consideration that the settlement of accounts and the transfer of the title during the take-over bid took place on 19 June 2014, the deadline for the shareholders to avail of the right granted by Article 37 of the Law to initiate a mandatory buyout of the Issuer’s rights expires on 19 September 2014.
The buyout price of the Issuer’s shares is equal to the price which was paid during the official bid, i.e. EUR 0.653 for one ordinary registered share of the Issuer.
Intermediary of public trading in securities, which will implement the mandatory purchase or sale of shares, shall be AB DNB bankas (code 112029270, address J. Basanavičiaus g. 26, 03601, Vilnius, Lithuania). Information tel. (+370 5) 239 3503 or 1608.
If the shareholders avail of the right to sell shares by way of mandatory buyout during the term prescribed by legal acts, Lietuvos Energija, UAB, shall be obligated, at least within 90 calendar days from the day of receipt of the request, to buy out the shares of the shareholders who have submitted the request.
The timeframe for contesting the price of shares is prescribed in Article 37(13) of the Law.
Shareholders of the Issuer may familiarize themselves with documents substantiating the price-setting of shares of the Issuer as from the day of this notice on workdays from 9 a.m. till 4.00 p.m. (on Fridays: till 3.15 p.m.) in the head office of the Company at Aguonų g. 24, LT-03212, Vilnius, tel. (8 5) 2360145. These documents are also available on the Central Database of Regulated Information (www.crib.lt) and the website of the Company www.dujos.lt
Annexes:
1. Circular.
2. Report on the implementation of the take-over bid.
Authorised person:
Justinas Stašinskas
Head of Legal Division
tel. (8 5) 236 01 45
[1] Personal data are not published in accordance with provisions of the Law of the Republic of Lithuania on Personal Data of Legal Protection.
