Published: 2019-12-04 07:00:50 CET
Ignitis grupė
Notification on material event

Regarding the working group, initiated by the Ministry of Finance of the Republic of Lithuania, the authority implementing the rights of the sole shareholder of UAB Ignitis grupė

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.

On 3 December 2019 the Company has received a written notice from the Ministry of Finance of the Republic of Lithuania, the authority implementing the rights of its sole shareholder (hereinafter – the Ministry of Finance), informing that the Ministry of Finance is initiating the formation of a working group to assess the alternatives of long-term financing of the Company (hereinafter – the Working group).

The Working group will be assigned to assess the Company's long-term financing alternatives and their impact to the expectations of the shareholder, implementation of the National Energy Independence Strategy, the Company's long-term financial sustainability and strategy 2030, also economic, social, national security and capital market development and to submit recommendations to the Ministry of Finance regarding alternatives for the Company's long-term financing, including raising equity, i.e. Initial Public Offering (IPO), in national and international capital markets. The expected term for the implementation of the Working group’s task – 1 March 2020, not 1 July 2020 as it was announed earlier.

The Working group will be composed of its Head Minister of Finance Vilius Šapoka, Deputy Head of the Working Group Vice-Minister of Finance Darius Sadeckas, Director of the VŠĮ Stebėsenos ir prognozių agentūra  Vidas Danielius, Chairman of the Ignitis Group Supervisory Board Darius Daubaras, Chairman and Chief Executive Officer of Ignitis Group Darius Maikštėnas, Vice-Minister of Energy Egidijus Purlys and Advisor to the Prime Minister Lukas Savickas.

The company will inform about assessment and recommendations of the Working group in accordance with the procedure laid down in legal acts.

Artūras Ketlerius, Head of public relations,