Published: 2020-06-29 15:55:12 CEST
Amber Grid
General meeting of shareholders

Notice on the decision taken by an Extraordinary General Meeting of Shareholders of AB Amber Grid

AB Amber Grid, legal entity code: 303090867. Address: Savanorių pr. 28, LT-03116 Vilnius, Lithuania.

On 29 June 2020 the Extraordinary General Meeting of Shareholders of AB Amber Grid decided to approve the decision of the Board of Amber Grid, adopted on 4 June 2020, to conclude a loan agreement with the European Investment Bank on a EUR 65 million loan for the financing of the construction of the Gas Interconnection Poland – Lithuania for a maximum term of 18 years including, inter alia, the following measures to secure Amber Grid liabilities and commitments:

1. Prohibition on disposal of Amber Grid Group’s assets, except for disposal at market value in an arm’s length transaction where:
  1.1. the asset is disposed in the usual course of business;
  1.2. shares in GET Baltic UAB or a part thereof are/is transferred;
  1.3. total value of the assets disposed over the term of the Loan Agreement shall not exceed 5% of the Company’s non-current assets as disclosed in the Company’s consolidated financial statements drawn up prior to the date of the loan agreement with the European Investment Bank;

2. No reorganisation of Amber Grid and Amber Grid Group unless the European Investment Bank gives its prior consent;

3. The Company is controlled by the Republic of Lithuania either directly or indirectly, with at least 50% of the shares controlled by the State;

4. Amber Grid and Amber Grid Group’s assets shall not be used as a security (including pledge, mortgage, lien, agreement on transfer or another encumbrance with the same effect) except in the following cases:
  4.1. securities that link claims and liabilities are required for offsetting purposes in the usual course of business;
  4.2. the security forms part of risk management measures;
  4.3. the asset concerned has been acquired after the date of the Loan Agreement except in cases where the purpose of the encumbrance is the acquisition of the asset, or where the credit amount is increased for the purposes of the acquisition;
  4.4. the term of the security is up to 6 months;
  4.5. assets of companies acquired after the date of the Loan Agreement are pledged or mortgaged;
  4.6. the value of the asset pledged/mortgaged does not exceed 5% of the value of consolidated assets of Amber Grid Group.

More information:
Laura Šebekienė, Head of Communications of Amber Grid,
ph. +370 699 61 246, e-mail: l.sebekiene@ambergrid.lt