Published: 2020-03-18 14:41:55 CET
Ignitis grupė
Notification on material event

The Government approved the conversion of UAB Ignitis Grupė and the increase of share capital

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 Company informs that on 18th March 2020 the Government of the Republic of Lithuania (hereinafter - the Government) adopted the resolution (hereinafter – the Resolution) approving the conversion of UAB Ignitis Grupė from a private limited liability company (UAB) into a public limited liability company (AB).

Also the Government in the Resolution agreed that, after the conversion of UAB Ignitis Grupė, the share capital of the public limited liability company shall be increased by additional contributions by issuing new ordinary registered uncertificated shares. This would be done for the purpose of implementing the initial public offering of the public limited liability company. During this procedure, publicly distributed shares of the  public limited liability company shall be in the amount that after the increase of the share capital of the public limited liability company and the public distribution of shares the State shall own not less than 2/3 of the shares and votes at the General Meeting of Shareholders of the public limited liability company.

The Resolution of the Government provides that the decision regarding the increase of the share capital should be taken by the Ministry of Finance of the Republic of Lithuania (hereinafter - the Ministry of Finance), which administrates shares owned by the State in the Company.

In addition, we inform that the Security Commission for the Coordination of Protection of Objects of National Security (hereinafter – Commission) on 16th March 2020 also approved the conversion of UAB Ignitis Grupė.

The draft of the Resolution to the Government and the request for the Commission was submitted by the Ministry of Finance, that initiated the adoption of decisions in accordance with the procedure established by the legal acts in respect of which the Company would be ordered to implement the initial public offering of the Company’s shares by issuing a new share issue. The recommendations to initiate such decisions for the Ministry of Finance were concluded by the working group, which assessed the alternatives of long-term financing of the Company and the Company informed about these recommendations in the notification of material event on 28th February 2020 (link).

Artūras Ketlerius, Head of Public Relations, phone +370 620 76076, e-mail arturas.ketlerius@ignitis.lt