Lietuvos Dujos AB - Notification on material event

Regarding resolutions of the Board of Directors of AB Lietuvos Dujos

Vilnius, Lithuania, 2013-10-30 14:13 CET (GLOBE NEWSWIRE) -- In its meeting
held on 30 October 2013 the Board of Directors of AB Lietuvos Dujos adopted the
following decisions: 

  1. Re: Establishment of a Subsidiary

The Board of Directors of AB Lietuvos Dujos (hereinafter referred to as “the
Company”) adopted the decision to establish a Subsidiary, the legal form of
which is a private limited liability company and to which the natural gas
distribution activity of the Company will be later transferred together with
the assets, rights and obligations attributed to such an activity. The Board of
Directors of the Company also established that the authorized capital of the
Subsidiary will amount to LTL 1,000,000 (one million). The Company's
administration was entitled to prepare and submit to the Company's Board of
Directors for the adoption the draft Incorporation Act and the draft Bylaws of
the Subsidiary by 1 April 2014. 

The decision to establish the Subsidiary was adopted in accordance with the
provisions of the Law on Natural Gas of the Republic of Lithuania and other
legal acts of the Republic of Lithuania regulating the unbundling of the
distribution activity. 

The extraordinary General Meeting of Shareholders of the Company held on 28 May
2012 adopted the decision to perform the unbundling of the  distribution
activity of the Company by establishing the Subsidiary of the Company and by
transferring the Company's natural gas distribution activity (complex of
assets) to such Subsidiary together with the assets, rights and obligations
attributed to such activity as the contribution in kind for the shares of the
Subsidiary in accordance with the terms provided for by the legal acts. It is
expected that the legal, functional, and organizational unbundling of the
distribution activity will be completed not later than by 31 October 2014 as
provided by legal acts. 

  1. Re: New Natural Gas Distribution Tariffs Effective from 1 January 2014

The Board of Directors of AB Lietuvos Dujos approved natural gas distribution
tariffs that will come into effect from 1 January 2014. 

The tariffs, approved by the Board of Directors of AB Lietuvos Dujos, will be
presented to the National Control Commission for Prices and Energy for
approbation. 



Authorised persons:

Head of Legal Division

Justinas Stašinskas

Tel. +3705 236 01 45



Head of Planning Division

Nemunas Biknius

Tel. +3705 236 02 41