Lietuvos energijos gamyba, AB - Notification on material event

Regarding decisions adopted by "Lietuvos energija", UAB

Elektrėnai, Lithuania, 2015-07-28 15:00 CEST (GLOBE NEWSWIRE) -- “Lietuvos
energijos gamyba”, AB (company code 302648707, registered office address
Elektrinės g. 21, Elektrėnai) (hereinafter - the Company), hereby informs that
on 28 July 2015 the Company received the Letter from "Lietuvos energija", UAB
(hereinafter - Lietuvos energija) holding 96.13 % of the Company's shares with
the information on decisions adopted by the Supervisory Board of Lietuvos
energija. 

As specified in the Letter, the Supervisory Board of Lietuvos energija at its
meeting held on 28 July 2015 approved the nomination of the Company's Board
Member Eglė Čiužaitė to the Board of the new electricity and gas distribution
company which will continue in operation after the pending reorganisation of AB
LESTO and AB Lietuvos dujos (hereinafter - the distribution company) and the
nomination of the Company's Board Member Vidmantas Salietis to the post of the
General Manager of Energijos tiekimas UAB. 

The Company hereby reminds the notification on material event made public on 4
May 2015 whereby the Company notified of the programme on development of chain
value of Lietuvos energija group of companies. According to the programme
concept, the part of commercial electrical energy wholesale trading activities
carried out by the Company shall be separated by 1 January 2016. 

Candidates to the Board of the new distribution company will be nominated in
accordance with the procedure set out by legal acts after the establishment of
the distribution company. The Board will be elected by the Supervisory Board of
the distribution company. Given that the Supervisory Board of Lietuvos energija
approved the nomination of the Company's Board Member Eglė Čiužaitė to the
Board of the distribution company, after establishment of the new distribution
company the recall of Eglė Čiužaitė from the Company's Board will be initiated
in  in accordance with the procedure set out by legal acts. 

After the separation of the part of commercial electrical energy wholesale
trading activities carried out by the Company by 1 January 2016, the recall of
Vidmantas Salietis from the Company's Board and appointment as a General
Manager of Energijos tiekimas UAB will be initiated in accordance with the
procedure set out by legal acts. The General Manager of Energijos tiekimas UAB
will be elected by the Board of Energijos tiekimas UAB. 

Any subsequent actions and decisions will be announced by the Company publicly
in accordance with the laws. 


         Valentas Neviera, Head of Corporate Communication Division, tel. +370
5 278 2908, e-mail. valentas.neviera@le.lt