ANNOUNCEMENT ON CORPORATE ACTION
Energijos Skirstymo Operatorius, AB (hereinafter – the Company or ESO), code 304151376, registered office address Aguonų St. 24, Vilnius. The total number of the registered ordinary shares issued by Energijos Skirstymo Operatorius, AB is 894 630 333; ISIN code – LT0000130023.
Acting in accordance with Article 37(2)(7) of the Law on Companies of the Republic of Lithuania, the Decision of the Board of the Company regarding the conclusion of the contract on the sale of the public electricity supply operations (hereinafter – the Business segment) with Lietuvos Dujų Tiekimas, UAB (hereinafter – LDT) was approved by the Supervisory Board of the Company on 29 August 2018 on the basis of positive opinion of the Audit Committee of the parent company Lietuvos Energija, UAB.
The Business segment sold by the Company to LDT is represented by the public electricity supply operations carried out in the territory specified in the license for the public electricity supply operations for the benefit of the customers referred to in Article 43 of the Law on Electricity of the Republic of Lithuania at State-regulated prices together with the assets, rights and obligations assigned to the Business segment.
On the basis of the valuation conducted by an independent property valuer UAB Ernst & Young Baltic, the price of the Business segment being sold was set at EUR 30,520,000 (thirty million five hundred twenty thousand euros) that the LDT shall pay to the Company. Given that the public supply electricity operations constituting the Business segment are continuous which causes changes in the Business segment in the period from the cut-off balance sheet of 30 June 2018 until the transfer of the Business segment on 1 October 2018, the price of the Business segment as specified below can be adjusted.
According to the provisions of the Contract, the ownership rights to the Business segment shall be transferred to LDT on 1 October 2018, on the basis of the Statement on the Transfer-Acceptance of the Business segment signed by the Company and LDT. Until that date the Company will continue operating as a public electricity supplier.
Having sold the public energy supply operations to LDT, the Company will continue generating proceeds for the distribution of electric energy and natural gas, operation, maintaining, control and development of electricity and natural gas grids, ensuring their safety and reliability.
The customers will be notified of any changes in the organisation of the public supply of electricity in advance.
Representative for Public Relations of Energijos Skirstymo Operatorius AB Tomas Kavaliauskas, e-mail: , tel.
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