An expert’s report should be ordered in ESO share price case

AB “Ignitis grupė” (hereinafter – the Group) informs that on 9 February 2023 the Supreme Court of Lithuania (hereinafter – the Court) has decided that the case concerning the determination of the fair price of the shares of the Group's subsidiary AB “Energijos skirstymo operatorius” (hereinafter – ESO) should be referred back to the Vilnius District Court for reconsideration.

The Court’s ruling stipulates that, during the reconsideration of the case in the Court of First Instance, an expert's report should be ordered to determine the price of ESO shares, or the claim will be left open.

The order of an expert’s report is a common practice in cases of this kind and the Group has been raising the issue of the appointment of an expert from the beginning of the proceedings.  According to the Group's assessment, the price per ESO share determined and coordinated with a supervisory authority is accurate.

The Group reminds that the dispute with a minority shareholder V. P. Vaitaitis started in August 2020, after he disagreed with the price determined during the mandatory buyout of ESO shares ().

The Group will not report on interim procedural rulings in separate notices.

For more information, please contact:

Artūras Ketlerius

Head of Corporate Communications at Ignitis Group