Notification on material event
Regarding the sale of 100 percent shares of UAB VĖJO VATAS, UAB VĖJO GŪSIS, UAB EURAKRAS, UAB VVP Investment
Lietuvos Energija, UAB, (hereinafter – the Company) identification code 301844044, registered office placed at Žvejų str. 14, Vilnius, Republic of Lithuania. The total nominal value of issued bonds 600 000 000 EUR; ISIN codes XS1646530565; XS1853999313.
Pursuant to the decision of the Managing Board dated 25 March 2019, the Company and the Company's subsidiary UAB Lietuvos energija renewables (hereinafter – the Renewables), identification code 304988904, registered office placed at P. Lukšio str. 5B, Vilnius, Republic of Lithuania, plan to enter into 4 (four) sale-purchase agreements regarding the transfer of 100 percent of the shares of the Company's subsidiaries developing renewable energy projects (hereinafter – RES companies) to Renewables on 28 March 2019.
RES companies, which will be transferred to Renewables: UAB VĖJO GŪSIS, identification code 300149876, registered office placed at Žvejų str. 14, Vilnius, Republic of Lithuania, uždaroji akcinė bendrovė VĖJO VATAS, identification code 110860444, registered office placed at Žvejų str. 14, Vilnius, Republic of Lithuania, UAB EURAKRAS, identification code 300576942, registered office placed at Žvejų str. 14, Vilnius, Republic of Lithuania, UAB VVP Investment, identification code 302661590, registered office placed at Žvejų str. 14, Vilnius, Republic of Lithuania.
The transfer of RES companies shares within the Group does not change the ultimate control over RES companies. RES companies shares are transferred at book value of the investment into shares and related liabilities, therefore the impact of the share transfer on the Company's financial result is neutral.
Consolidating the management of RES companies that are developing renewable energy projects in a separate company the Renewables allows more efficient organising of adoption and implementation of corporate decisions related to the renewable energy activities and enables targeted development of unique competences necessary for this activity.
Arturas Ketlerius, Head of Public Relations, mob. +370 620 76076, email. firstname.lastname@example.org