Lietuvos energijos gamyba, AB - Notification on material event

On adopted Resolution of the Court

Elektrėnai, Lithuania, 2017-03-08 07:41 CET (GLOBE NEWSWIRE) -- Lietuvos
Energijos Gamyba, AB, company code 302648707, registered office at Elektrinės
st. 21, Elektrėnai (hereinafter referred to as the Company). The total number
of registered ordinary shares issued by company is 635 083 615, ISIN code –
LT0000128571. 

Please be advised that on the 7 March, 2017 Supreme Administrative Court  of
Lithuania (hereinafter – SACL) rejected Company’s appeal and Vilnius Regional
Administrative Court decision dated 17 November, 2015 by which Vilnius Regional
Administrative Court dismissed Company’s claim on the dismissal of Resolution
No. O3-875 of the National Commission for Energy Control and Prices
(hereinafter – Commission) of 30 October 2014 “On recalculation of the price
components of heat production by Lietuvos Energijos Gamyba, AB, Lietuvos
elektrinė” and of Resolution No. O3-934 of the Commission of 11 December 2014
“On unilateral determination of the price of heat production by Lietuvos
Energijos Gamyba, AB, Lietuvos elektrinė”, remained unmodified. The SACL
decision is final and not subject to appeal. 

The above mentioned resolutions of the Commission had unilaterally established
price components for heat produced by the Company and supplied to UAB Elektrėnų
Komunalinis Ūkis. The Company finds that calculations of the Commission of the
return on investment are inaccurate and contradicting the legal acts. Whereas
the Company has applied the price unilaterally set by the Commission, therefore
the decision of the SACL will not have a direct impact on the Company’s
financial results. 


         Valentas Neviera, Head of Communication Division, tel. +370 670 25997,
e-mail. valentas.neviera@le.lt