Lietuvos energija, AB - Notification on material event

Regarding the adopted Decision of the Supervisory Authority Director of the Bank of Lithuania

Elektrėnai, Lithuania, 2013-02-13 15:11 CET (GLOBE NEWSWIRE) -- Lietuvos
energija, AB (company code 302648707, registered address Elektrinės st. 21,
Elektrėnai; hereinafter - the Company) received the Decision of the Director of
the Supervisory Authority of the Bank of Lithuania dated February 12, 2013
regarding the Inspection act No. 241-28 of Lietuvos energija, AB dated November
28, 2012. 


The Company is obliged to notify that the financial statements of the year 2011
of the Lietuvos energija, AB and parent company did not comply with the
provisions of the Article 69 of the 1 IAS ‘The submission of the financial
statements', Article 51 of the 16 IAS ‘Property, equipment and installation'
and Article 9 of the 16 IAS ‘Impairment of the assets'. Discrepancies are
related to the liabilities of the Lietuvos elektrinė, long-term asset value and
operational depreciation periods.  Discrepancies occurred due to the merger
between AB ‘Lietuvos energija' and AB Lietuvos elektrine which took place in
2011. 

At the moment the Company is evaluating an impact of these discrepancies on the
Financial statements for December 31, 2011 of the Company and Group. 


If it will be determined that the discrepancies had a significant impact on the
financial position and financial performance of the Company and the Group in
2011, the financial statements for 2011 will be regressively corrected and
published together with the audited financial statements of the Company and
Group for 2012. Alongside the impact of the found discrepancies on the
financial performance and financial position of the Company and the Group for
December 31, 2011 will be disclosed. 


         Ernesta Dapkienė
         Head of Corporate Communications
         Tel. +370 528 33696
         ernesta.dapkiene@le.lt