Lietuvos Dujos - Notification on material event

Regarding resolutions of the Board of Directors of AB Lietuvos Dujos

Vilnius, Lithuania, 2014-07-22 08:29 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 the decision of the Extraordinary General Meeting of
Shareholders of the Company of 30 June 2014, on 21 July 2014 the Board of
Directors of AB Lietuvos Dujos (hereinafter - the Company) approved that the
distribution and supply activities of the Company will be unbundled by selling
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,
to a company controlled by the main shareholder of the Company Lietuvos
Energija, UAB under the purchase - sale agreement of the part of the Company.
The Board of Directors of the Company decided not to establish a subsidiary for
the performance of the gas distribution activity, as it was provided in the
decisions of the Extraordinary General Meeting of Shareholders of the Company
of 28 May 2012 and the decisions of the Board of Directors of the Company of 30
October 2013 and 27 March 2014. 

The Board of Directors of the Company also approved a new Description of the
method for the unbundling of the gas distribution activity together with the
unbundling action plan. In accordance with the requirements of legal acts of
the Republic of Lithuania, the Company submitted this description to the
National Control Commission for Prices and Energy for coordination. 

It is expected that the legal, functional and organizational unbundling of the
distribution activity will be performed not later than until 31 October 2014,
as provided in legal acts. 



Authorised person:

Mantas Mikalajūnas

Head of Strategic Development Division

Tel. +370 5 2360220