Notification on material event
Regarding the initiation of the process of delisting of shares of UAB Ignitis grupė subsidiaries AB Ignitis Gamyba and AB Energijos skirstymo operatorius from trading on the regulated market
UAB Ignitis grupė, (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.
The board of the Company has decided to initiate the process of delisting of the shares of the subsidiaries AB Ignitis Gamyba (hereinafter – GEN) and AB Energijos Skirstymo Operatorius (ESO) from the regulated market. On 11 November 2019 the Ministry of Finance of the Republic of Lithuania, implementing the rights of the sole shareholder of the Company, has approved the said decision.
The Company proposes delisting of the GEN and ESO shares from trading on the AB Nasdaq Vilnius Stock Exchange for the following reasons:
- A small amount of the GEN and ESO shares is publicly traded on the AB Nasdaq Vilnius Stock Exchange, therefore, stock trading is not active;
- The public trading of the GEN and ESO shares on a regulated market does not provide real benefit to the companies, but requires additional and duplicated costs related to the performance of the requirements for listed companies, which are also and will be secured at the level of UAB “Ignitis Grupė” because of the green bond issues which are listed on AB Nasdaq Vilnius and Luxembourg stock exchanges;
- GEN and ESO have no purpose to raising additional capital by implementing public offerings of its shares or other securities on the AB Nasdaq Vilnius Stock Exchange;
- The Company, together with the Ministry of Finance of the Republic of Lithuania, which is the authority implementing its shareholder rights, is planning to analyze long-term financing alternatives of the group of UAB “Ignitis grupė”, which could include raising debt and equity in national and in international capital markets. No specific decisions have been made to this date.
Considering that the decision to delist the issuer's shares from trading on the regulated market operating in the Republic of Lithuania has to be made by the General Meeting of Shareholders by at least 3/4 majority of the votes of the shareholders participating in the meeting, the Company addressed the boards of GEN and ESO with proposal to convene extraordinary general meetings of shareholders.
The Company will inform about its further actions in the manner set forth by laws.
Artūras Ketlerius, Head of public relations, tel. +370 620 76076, email@example.com