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2012-02-01 16:00:00 CET 2012-02-01 16:00:04 CET SÄÄNNELTY TIETO City Service AB - Notification on material eventOn City Service AB transferred activity to the subsidiaryVilnius, Lithuania, 2012-02-01 16:00 CET (GLOBE NEWSWIRE) -- On 31 January 2012 the first stage of implementation of City Service AB (hereinafter - Company) Board decision was finished - commercial real estate management and maintenance activities were transferred to the subsidiary of the Company City Service LT UAB (code 300883806). The activity of the Company was transferred according to the decision of the Board of the Company, adopted on 29 December 2011, that the Company activity shall be holding enterprise - public company which controls facility management, maintenance, waste management companies in Lithuania and in other countries. Continuing the implementation, on the second stage the subsidiaries which are registered in Lithuania and manage residential facility in Lithuania and perform other activities related with the residential facility management shall be transferred to City Service LT UAB direct control. The first stage ended on 31 January 2012 when the Company and 100 percent controlled subsidiary of the Company City Service LT UAB concluded share subscription agreement and assets, rights and obligations deed, on the basis of the above mentioned the Company's commercial real estate management and maintenance activities (including rights and obligations related to the mentioned activities) as assets complex was transferred to City Service LT UAB. Accordingly under share subscription agreement the Company paid up all new issued City Service LT UAB shares and the Company shall obtain and control 100 percent of City Service LT UAB shares after the registration of the new emission in the enterprises register. Vilius Mackonis, Public relations manager +370 5 239 4900 |
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