Vilnius, Lithuania, 2014-10-07 15:23 CEST (GLOBE NEWSWIRE) -- In accordance with the requirements on the unbundling of gas distribution activity provided for by the Law on Natural Gas of the Republic of Lithuania and other legal acts, as well as in accordance with the decisions of the Extraordinary General Meeting of Shareholders of AB Lietuvos Dujos (hereinafter – the Company) of 30 June 2014 and the Board of Directors of the Company of 21 July 2014, the Board of Directors of the Company on 6 October 2014 decided to transfer for pay the Company’s complex of assets (part of enterprise), i.e. the gas supply activity with the assets, rights and obligations attributed to such activity (hereinafter – Part of Enterprise), to UAB Lietuvos dujų tiekimas.
In accordance with the terms and conditions provided in the draft sale-purchase agreement of the Part of Enterprise which was approved by the Board of Directors of the Company, the price for Part of Enterprise is LTL 60 457 000 (sixty million four hundred fifty seven thousand litas) (EUR 17 509 557,46 (seventeen million five hundred and nine thousand five hundred fifty seven euro and forty six euro cents)), and the ownership right to Part of Enterprise shall transfer to UAB Lietuvos dujų tiekimas on the 31 October 2014. The price for Part of Enterprise corresponds to the market value of the Part of Enterprise determined by the independent asset assessors.
The transfer of the Part of enterprise is performed under the action plan of the unbundling of the natural gas distribution activity of the Company, coordinated with the National Control Commission for Prices and Energy.
Authorised person:
Justinas Stašinskas
Head of Legal Division
tel. (8 5) 236 01 45