Notification on material event
Regarding Conclusion of the Transaction with the Related Party
On 10 July 2019 Lithuania’s natural gas transmission system operator, AB Amber Grid (hereinafter referred to as the “Company”), concluded an energy savings transfer agreement (hereinafter referred to as the "Agreement") with the company, LITGRID, AB, company code 302564383, address A. Juozapaviciaus str. 13, Vilnius, company data stored at the Register of Legal Entities of the Republic of Lithuania. The Company and LITGRID, AB is a part of UAB EPSO-G group of companies.
Under the Agreement the Company transfers gratuitous and LITGRID, AB accepts a part of the energy savings (30 875.5 MWh) planned to be saved by the Company until the end of 2020. This transaction will not affect the Company's financial results.
The obligation to save the energy for the Company and LITGRID AB arose from the Energy Savings Agreement signed on 9 October 2017 between the Ministry of Energy of the Republic of Lithuania, UAB EPSO-G, AB Amber Grid and LITGRID, AB, which provides the possibility to transfer the energy savings of one company to another.
On 25 June 2019 Board of the Company approved conclusion of the Agreement with LITGRID, AB.
UAB EPSO-G audit committee issued and opinion whereby the transaction is in compliance with the market conditions and is fair and justified in respect of all of the shareholders of the Company.
Laura Šebekienė, Head of Communications of Amber Grid,
ph. +370 699 61 246,