Elektrėnai, Lithuania, 2016-01-12 16:30 CET (GLOBE NEWSWIRE) -- “Lietuvos energijos gamyba”, AB (business ID 302648707, registered office address Elektrinės g. 21, Elektrėnai, (hereinafter referred to as the ‘Company’) hereby informs that on 12 January 2016 the Company was notified by “Lietuvos energija”, UAB, which controls 96.13% of shares in the Company, about an Order issued by the Minister of Finance of the Republic of Lithuania ‘On the implementation of the provisions of Resolution of the Government of the Republic of Lithuania No 1126 of 26 October 2015 ‘On the redemption of shares‘ No 1K-6 of 6 January 2016’ (hereinafter referred to as the ‘Order’).
The Order issued by the Minister of Finance obligates “Lietuvos energija”, UAB to implement the Resolution of the Government of the Republic of Lithuania No 1126 of 26 October 2015 ‘On the redemption of shares‘ (hereinafter referred to as the ‘Resolution’) and to redeem (purchase), on the terms and conditions set out in the Resolution, the shares of minority shareholders of LIETUVOS ELEKTRINĖ AB (which ceased to exist upon reorganisation of LIETUVOS ENERGIJA AB and LIETUVOS ELEKTRINĖ AB on 5 August 2011) which are redeemable by the State, which have been acquired into ownership by converting the shares into shares of Lietuvos energija, AB (present name “Lietuvos energijos gamyba”, AB) upon the said reorganisation, and which were not transferred to third parties. Should it be impossible to determine which shares of the same type and without individual features had been transferred as of the moment of redemption, it will be deemed that the shares acquired earliest had been transferred.
In addition, the Company was informed by “Lietuvos energija”, UAB that on 11 January 2016 its Board had decided, having regard to the Resolution and the Order, to redeem the shares of minority shareholders of LIETUVOS ELEKTRINĖ AB (which ceased to exist upon reorganisation of LIETUVOS ENERGIJA AB and LIETUVOS ELEKTRINĖ AB on 5 August 2011) on the terms and conditions set out in the Resolution and the Order.
“Lietuvos energija”, UAB will elaborate, no later than by 15 February 2016, a procedure for the redemption of the shares of minority shareholders of LIETUVOS ELEKTRINĖ AB (which ceased to exist upon reorganisation of LIETUVOS ENERGIJA AB and LIETUVOS ELEKTRINĖ AB on 5 August 2011) and will publicly announce on it in a source specified in the Articles of Association of “Lietuvos energija”, UAB
A further notice will be published about next steps in the share redemption process.
Valentas Neviera, Head of Corporate Communication Division, tel. +370 670 25997, e-mail. valentas.neviera@le.lt