Lietuvos Dujos AB - Notification on material event

Re: Submission to NCCPE of the Description of the Methods for Unbundling of Activities and Control Selected by AB Lietuvos Dujos

Vilnius, Lithuania, 2012-05-31 10:20 CEST (GLOBE NEWSWIRE) -- In implementation
of provisions of legal acts of the Republic of Lithuania, on 31 May 2012, AB
Lietuvos Dujos submitted to the National Control Commission for Prices and
Energy the Description of the selected method for the unbundling of the natural
gas transmission activity and control and the selected method for the
unbundling of the gas distribution activity together with action plans,
providing for the legal, functional and organizational unbundling of the
Company's natural gas transmission activity by 31 July 2013 and for the
implementation of the unbundling of control of the transmission activity as
well as the legal, functional, and organizational unbundling of the Company's
natural gas distribution activity by 31 October 2014. 

For the unbundling of the transmission activity and control, AB Lietuvos Dujos
General Meeting of Shareholders selected the procedure of reorganization as
provided for by Article 4 of the Law on Implementation of the Law Amending the
Law on Natural Gas of the Republic of Lithuania and Paragraph 8 of the Plan on
Performing the Unbundling of Activities and Control of Natural Gas Companies
that do not Conform to the Requirements of the Law on Natural Gas of the
Republic of Lithuania as approved by Resolution No. 1239 of the Government of
the Republic of Lithuania of 28 October 2011 (amended by Resolution No. 257 of
the Government of the Republic of Lithuania of 7 March 2012) and for the
unbundling of the distribution activity it selected the transfer of the
distribution activity to the newly established subsidiary. 



Authorised person:

Saulius Bilys

Head of Strategic Development Division

Tel. +3705 236 01 46

Attachments:

2012-05-31 Press release - LD Unbundling EN.pdf