Elektrėnai, Lithuania, 2016-05-02 10:45 CEST (GLOBE NEWSWIRE) -- Lietuvos Energijos Gamyba, AB (registered office address – Elektrinės st. 21, Elektrėnai, Lithuania, legal entity’s code – 302648707).
There is only a week remaining for minority shareholders of former LIETUVOS ELEKTRINĖ, AB to take advantage of a possibility to redeem the shares. They still are able to address any customer service division of AB SEB bank administering the redemption of shares till 9 May (inclusive) and present the necessary data on their shares which meet the set criteria and submit an application for their redemption. Those who are late in doing so before the set period of time will no longer be able to take advantage of this possibility.
Please be reminded that shares of former LIETUVOS ELEKTRINĖ, AB offered for redemption are equated to the shares of the currently operating energy producer Lietuvos Energijos Gamyba, AB, at a set ratio. Currently, there are more than 800 minority shareholders who have already taken advantage of the possibility to sell their shares. Those who do not wish to make use of this specific redemption or who have not yet had time to submit the necessary documents for the redemption of shares will continue to be shareholders of Lietuvos Energijos Gamyba, AB, and will be able to trade their shares on the exchange.
The shares shall be redeemed implementing the ruling of the Supreme Court of the Republic of Lithuania of 19 November 2014 stating that the State’s obligation to redeem shares held by minority shareholders of the dissolved legal person, LIETUVOS ELEKTRINĖ, AB, has survived and must be fulfilled. Essential conditions of the redemption of shares are laid down in Resolution No. 1126 “On the Redemption of Shares” adopted by the Government of the Republic of Lithuania on 26 October 2015.
In the implementation of the Government’s resolution, a term of 90 calendar days was set for former shareholders of LIETUVOS ELEKTRINĖ, AB to submit to AB SEB bank the documents and demand that Lietuvos Energija, UAB, owning the energy holding, which was obligated to redeem the shares, actually redeemed them. The calculation of the term was started on 9 February 2016, when information about the redemption of shares was published in the procedure prescribed by the Government’s resolution and mailed to each former shareholder of LIETUVOS ELEKTRINĖ, AB to their available contact addresses.
Please be reminded that only those shares, which were held by the right of ownership by minority shareholders no later than on 5 August 2008 and which during the reorganisation of LIETUVOS ELEKTRINĖ, AB on 5 August 2011 were converted into shares of the current Lietuvos Energijos Gamyba are subject to redemption. Shares transferred to third parties will not be redeemed. It should be noted that the shares, which were transferred to third parties between 5 August 2008 and the day of redemption of the shares, but were re-acquired by shareholders during this time period, will not be redeemed either. Should it be impossible to determine which shares of the same type and without individual features were transferred before the moment of redemption, the earliest acquired shares shall be deemed to have been transferred. Should it be impossible to determine which shares of the same type and without individual features were transferred before the moment of redemption, the earliest acquired shares shall be deemed to have been transferred.
It was determined that 1.37 shares of the current Lietuvos Energijos Gamyba shall be given for one share of the dissolved LIETUVOS ELEKTRINĖ, AB. The price per redeemed ordinary registered share of Lietuvos Energijos Gamyba shall be fixed at 1.2959 euro per share.
Settlement for the shares redeemed shall be made in cash in accordance with the procedure established in laws of the Republic of Lithuania and in the agreement for the purchase and sale of shares. Money for the redeemed shares shall be transferred to the bank accounts indicated by shareholders no later than within 30 calendar days from the end of the above-mentioned time limit of 90 calendar days for acceptance of applications from shareholders. Lietuvos Energija plans to transfer the money for the redeemed shares within the shortest possible period of time.
The entire information relating to the redemption of shares and the list of documents to be provided by shareholders when submitting applications for the redemption of shares is available on the websites of Lietuvos Energija and Lietuvos Energijos Gamyba at www.le.lt and www.gamyba.le.lt.
Information about the redemption of shares is also provided to shareholders in customer service divisions of AB SEB bank and by calling the Contact Centre at 1528 or (8 5) 268 2800 (if calling from abroad, dial +370 5 268 2800).
Valentas Neviera, Head of Corporate Communication Division, tel. +370 670 25997, e-mail. valentas.neviera@le.lt