AB Amber Grid was established after a spin-off of the natural gas import and sales, transmission and distribution company AB Lietuvos Dujos. Activity of the natural gas transmission service operator was separated from AB Lietuvos Dujos and attributed to AB Amber Grid. AB Lietuvos Dujos continues its operations and its shares continue to be listed on the Baltic Main List of NASDAQ OMX Baltic Market.
“We are very happy to welcome a Lithuanian natural gas transmission company AB Amber Grid to the NASDAQ OMX Baltic Market. We hope that this important infrastructure company will take advantage of being listed and be attractive for both local and foreign investors”, says Arminta Saladžienė, Head of NASDAQ OMX Baltic Market.
“Our goals include proper and timely implementation of a number of gas transmission pipeline system development projects that are both of national and regional importance and in being a reliable partner to our customers. We strive to deliver a high quality of services; we strive for transparency and openness. The listing of the Company’s shares on the stock exchange is an integral part of transparency of operations,” says Saulius Bilys, CEO of AB Amber Grid.
According to the Terms and Conditions of the spin-off of AB Lietuvos Dujos approved by the General Meeting of Shareholders, the share capital of AB Amber Grid amounts to LTL 178.38 million (EUR 51.66 million). On June 25, 2013 three shareholders held more than 5% of AB Amber Grid shares and votes: E.ON Ruhrgas International GMbH owned 38.9%, OAO „Gazprom“ – 37.1%, and the Ministry of Energy of the Republic of Lithuania - 17.7%.
As of August 1, 2013, NASDAQ OMX Baltic Secondary List contains 45 companies: including 3 from Estonia, 26 from Latvia and 16 from Lithuania.
Note: NASDAQ OMX Baltic Secondary List consists of Secondary Lists of NASDAQ OMX Tallinn, NASDAQ OMX Riga and NASDAQ OMX Vilnius.
About AB Amber Grid
AB Amber Grid is the operator of Lithuania’s natural gas transmission system and is in charge of transmission of natural gas (transportation of natural gas through high pressure pipelines) to system users, and operation, maintenance and development of natural gas transmission system. AB Amber Grid started its operations on 1 August 2013, when the fixed-term natural gas transmission licence (issued to AB Amber Grid by the National Control Commission for Prices and Energy) came into effect.
AB Amber Grid was established on 11 June 2013 pursuant to a resolution adopted by a General Meeting of Shareholders of AB Lietuvos Dujos in implementation of requirements of legal acts of the Republic of Lithuania providing for the unbundling of the natural gas transmission activity from other activities. By the aforesaid resolution the General Meeting of Shareholders of AB Lietuvos Dujos approved the Terms and Conditions of the Spin-off providing for a spin-off from AB Lietuvos Dujos (continuing its activities) of a Transmission System Operator company on the basis of assets, rights and obligations attributed to the gas transmission activity.
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