Energijos Skirstymo Operatorius AB - Notification on material event

Regarding Court Decision

Energijos Skirstymo Operatorius AB, identification code 304151376, registered office placed at Aguonu str. 24, Vilnius, Republic of Lithuania. The total number of registered ordinary shares issued by company is 894 630 333; ISIN code LT0000130023.

On the 25 October, 2017 Vilnius Regional Administrative Court (hereinafter – VRAC) rejected Company’s complaint asking to annul the Resolution No. O3-351 „Regarding AB LESTO violation of conditions for regulated activities“ of the National Commission for Energy Control and Prices” (hereinafter – the Commission) of 04.06.2015, on the basis of which the Commission has imposed a 300 000 Eur fine on the Company and obliged the Company to rectify regulated cost reports for the 2011-2013 year according to the results of cost inspection report of the Commission dated 19 December, 2014, and submit it to the Commission.

The VRAC stated that the fine which was imposed by the Commissions’ Resolution No. O3-351, the necessity of its‘ imposition and the size of the fine are reasonable and just, baced on the legitimate Resolution No. O3-947 and on the corresponding legislation regulations which establishes sanction calculation rules.

The VRAC decision can be appealed to the Supreme Administrative Court of Lithuania within a month.

The Company would like to remind that disagreed with the cost inspection report of the Commission dated 19 December, 2014. In Company’s opinion, National Commission for Energy Control and Prices improperly conducted the cost inspection and supervision of activities of economic entities, violated the principles of public administration, improperly counted the regulated public supply activities costs and actually attributed ones, that’s why there is no legal basis for finding an infringement and the imposition of a sanction on the Company.

Please note that the decision adopted by the VRAC the company's financial results will not be affected.
 

         Representative for Public Relations Akvilė Adomaitytė, tel. +370 684 12130.