Notification on material event
Regarding court‘s decision to lift the temporary protection measures of mandatory buy-out of shares of AB Energijos skirstymo operatorius and resumption of the process of buy-out
AB Ignitis Grupė, (hereinafter – the Company or Ignitis grupė) informs that on 29 October 2020 the Court of Appeal of Lithuania (hereinafter – the Court) made a decision on lifting the temporary protection measures which were applied by Vilnius Regional Court and on resumption of suspended mandatory buy-out of shares of AB Energijos Skirstymo Operatorius (hereinafter – ESO).
The Court decided to satisfy 20 October 2020 complaint of Ignitis grupė (hereinafter – the Complaint) against Vilnius Regional Court decision of 11 April 2020 to apply the temporary protection measures and suspend mandatory buy-out of shares of AB Energijos Skirstymo Operatorius (hereinafter – ESO) until final decision in this civil case on the determination of the shares’ price becomes effective . The decision of the Court comes into effect on 29 October 2020.
After the Court satisfied the Complaint, the process of mandatory buy-out of shares of ESO is resumed, during which all remaining shareholders of ESO must sell their shares to Ignitis grupė. The process is resumed for the period which remained to the end of buy-out shares on the day when the temporary protection measures were applied. The duration of the mandatory buy-out of shares is 90 calendar days under the Law on Securities, the process was suspended on the 86th day. Accordingly, the process is resumed for 5 calendar days from the day the decision of the Court comes into effect and will end on 5 November 2020. Please note that:
- No further actions are required for shareholders of ESO who submitted their application to sell shares for the Company by 12 August 2020
- Shareholders who have not submitted an application to sell shares to the Company can do so before the deadline
- With shareholders who have sold shares to the Company will be settled on 5 November 2020
If the shareholders do not sell their ESO shares by the end of the period of mandatory share buy-out, this is until 3 November 2020, Ignitis grupė, by having made payments to the deposit account of shareholders who did not sell shares, will acquire the right to apply to the court, requesting to oblige the managers of share accounts to make records on the transfer of ownership of shares to Ignitis grupė.
If you have any questions about the mandatory buy-out of ESO shares, please contact us by phone 1802 or by e-mail IR@ignitis.lt.
Head of Public Relations at Ignitis Group
+370 620 76076