Lietuvos Dujos AB - Notification on material event

Re resolutions adopted by AB Lietuvos Dujos Extraordinary General Meeting of Shareholders

Vilnius, Lithuania, 2012-03-23 12:21 CET (GLOBE NEWSWIRE) -- The Agenda the
Extraordinary General Meeting of Shareholders of AB Lietuvos Dujos (hereinafter
referred to as “the Company”) held on 23 March 2012 comprised three items: 

  1. Selection of the method for the unbundling of the transmission activity and
     control.
  2. Selection of the method for the unbundling of the distribution activity.
  3. Instructions to the Board of Directors to implement the resolutions
     adopted.



The Extraordinary General Meeting of Shareholders adopted the following
resolutions: 

1. Selection of the method for the unbundling of the transmission activity and
control. 

In accordance with the Resolution No. O3-70 of 20 March 2012 of the National
Control Commission for Prices and Energy and given that extra time is
objectively required for AB Lietuvos Dujos major shareholders for the
negotiations related to the foreseen unbundling of the Company's activities,
the coordination of particular provisions of the Shareholders Agreement and the
Share Sales Purchase Agreements, gas transit to Kaliningrad, the terms of gas
purchase and gas volumes in the future, the evaluation of the company, and
respectively - extra time is required for the selection of the method for
unbundling of the natural gas transmission activity and control, as well as for
the preparation and coordination of the plan of actions to be performed, not to
adopt the resolution on the selection of the method for unbundling of AB
Lietuvos Dujos transmission activity and control at this General Meeting of
Shareholders. 

2. Selection of the method for the unbundling of the distribution activity.

In accordance with the Resolution No. O3-70 of 20 March 2012 of the National
Control Commission for Prices and Energy and given that extra time is
objectively required for AB Lietuvos Dujos major shareholders for the
negotiations related to the foreseen unbundling of the Company's activities,
the coordination of particular provisions of the Shareholders Agreement and the
Share Sales Purchase Agreements, gas transit to Kaliningrad, the terms of gas
purchase and gas volumes in the future, the evaluation of the company, and
respectively - extra time is required for the selection of the method for
legal, functional and organizational unbundling of the natural gas distribution
activity, as well as for the preparation and coordination of the plan of
actions to be performed, not to adopt the resolution on the selection of the
method for unbundling of AB Lietuvos Dujos distribution activity at this
General Meeting of Shareholders. 

3. Instructions to the Board of Directors to implement the resolutions adopted.

Taking into consideration that the resolutions on the selection of the method
for unbundling of AB Lietuvos Dujos natural gas transmission activity and
control and for unbundling of AB Lietuvos Dujos natural gas distribution
activity were not adopted at this General Meeting of Shareholders, not to adopt
the resolutions on this issue of the agenda at this meeting. 



The resolutions adopted by the Extraordinary General Meeting of Shareholders of
the Company are posted on the Central Database of Regulated Information
(www.crib.lt) and the website of the Company www.dujos.lt. 



Authorised person:

Saulius Bilys

Head of Strategic Development Division

tel. +370 5 236 01 46