Lietuvos Dujos - Notification on material event

Regarding resolutions of the Board of Directors of AB Lietuvos Dujos

Vilnius, Lithuania, 2014-10-07 15:23 CEST (GLOBE NEWSWIRE) -- In accordance
with the requirements on the unbundling of gas distribution activity provided
for by the Law on Natural Gas of the Republic of Lithuania and other legal
acts, as well as in accordance with the decisions of the Extraordinary General
Meeting of Shareholders of AB Lietuvos Dujos (hereinafter - the Company) of 30
June 2014 and the Board of Directors of the Company of 21 July 2014, the Board
of Directors of the Company on 6 October 2014 decided to transfer for pay the
Company's complex of assets (part of enterprise), i.e. the gas supply activity
with the assets, rights and obligations attributed to such activity
(hereinafter - Part of Enterprise), to UAB Lietuvos dujų tiekimas. 

In accordance with the terms and conditions provided in the draft sale-purchase
agreement of the Part of Enterprise which was approved by the Board of
Directors of the Company, the price for Part of Enterprise is LTL 60 457 000
(sixty million four hundred fifty seven thousand litas) (EUR 17 509 557,46
(seventeen million five hundred and nine thousand five hundred fifty seven euro
and forty six euro cents)), and the ownership right to Part of Enterprise shall
transfer to UAB Lietuvos dujų tiekimas on the 31 October 2014. The price for
Part of Enterprise corresponds to the market value of the Part of Enterprise
determined by the independent asset assessors. 

The transfer of the Part of enterprise is performed under the action plan of
the unbundling of the natural gas distribution activity of the Company,
coordinated with the National Control Commission for Prices and Energy. 



Authorised person:

Justinas Stašinskas

Head of Legal Division

tel. (8 5) 236 01 45