The Court upheld the decision to apply the temporary protection measures

Energijos Skirstymo Operatorius AB (hereinafter – the Company or ESO), identification code 304151376, registered office placed at Aguonu str. 24, Vilnius, Republic of Lithuania. The total number of registered ordinary shares issued by company is 894 630 333; ISIN code LT0000130023.

As it was announced earlier, on January 6 2020 the Company appealed the decision of District Court of Vilnius City of 31 December 2019 regarding application of temporary protection measures - suspension of the 4 December 2019 resolutions of the Extraordinary General Meeting of Shareholders of ESO. 

The Company informs that Vilnius Regional Court (hereinafter – the Court) on 13 February 2020 issued a ruling that rejected the complaint by ESO and left in effect a decision of District Court of Vilnius City of 31 December 2019. The court ruled that there is no ground to state that the lawsuit of a few minority shareholders is a frivolous one until the case is heard and the evidence is considered by the court. Meantime, plausible validity of the lawsuit is enough to apply temporary protection measures. 

The Extraordinary General Meeting of Shareholders of the Company, that was held on 4 December 2019, adopted the following resolutions: 

1. Regarding delisting of the shares of Energijos skirstymo operatorius AB from trading on the Nasdaq Vilnius Stock Exchange.

1.1. To delist all shares of Energijos skirstymo operatorius AB from trading on the Nasdaq Vilnius Stock Exchange.

1.2. To approve the shareholder UAB Ignitis Group (legal entity code 301844044) as a person that will make an official tender offer to buy-in the shares of Energijos skirstymo operatorius AB that are admitted to trading on the Nasdaq Vilnius Stock Exchange.

1.3. To delegate the CEO of Energijos skirstymo operatorius AB, with the right of sub-delegation, with the task of performing all necessary actions and submitting all necessary documents to AB Nasdaq Vilnius for the purpose of delisting of the shares of Energijos skirstymo operatorius AB from trading on this regulated market. 

Delisting of shares of ESO from trading on the AB Nasdaq Vilnius Stock Exchange is halted until judgement in a civil case regarding the claim of the few minority shareholders of ESO asking to invalidate resolutions which were adopted at the Extraordinary General Meeting of Shareholders enters into force.

The Company informs that further actions will be disclosed as required by law.

Representative for Public Relations - Tomas Kavaliauskas, , tel. .