Lietuvos energijos gamyba, AB - Notification on material event

Concerning redemption of shares under a judgment of Supreme Court of Lithuania

Elektrėnai, Lithuania, 2016-01-12 16:30 CET (GLOBE NEWSWIRE) -- “Lietuvos
energijos gamyba”, AB (business ID 302648707, registered office address
Elektrinės g. 21, Elektrėnai, (hereinafter referred to as the ‘Company’) hereby
informs that on 12 January 2016 the Company was notified by “Lietuvos
energija”, UAB, which controls 96.13% of shares in the Company, about an Order
issued by the Minister of Finance of the Republic of Lithuania ‘On the
implementation of the provisions of Resolution of the Government of the
Republic of Lithuania No 1126 of 26 October 2015 ‘On the redemption of shares‘
No 1K-6 of 6 January 2016’ (hereinafter referred to as the ‘Order’). 

The Order issued by the Minister of Finance obligates “Lietuvos energija”, UAB
to implement the Resolution of the Government of the Republic of Lithuania No
1126 of 26 October 2015 ‘On the redemption of shares‘ (hereinafter referred to
as the ‘Resolution’) and to redeem (purchase), on the terms and conditions set
out in the Resolution, the shares of minority shareholders of LIETUVOS
ELEKTRINĖ AB (which ceased to exist upon reorganisation of LIETUVOS ENERGIJA AB
and LIETUVOS ELEKTRINĖ AB on 5 August 2011) which are redeemable by the State,
which have been acquired into ownership by converting the shares into shares of
Lietuvos energija, AB (present name “Lietuvos energijos gamyba”, AB) upon the
said reorganisation, and which were not transferred to third parties. Should it
be impossible to determine which shares of the same type and without individual
features had been transferred as of the moment of redemption, it will be deemed
that the shares acquired earliest had been transferred. 

In addition, the Company was informed by “Lietuvos energija”, UAB that on 11
January 2016 its Board had decided, having regard to the Resolution and the
Order, to redeem the shares of minority shareholders of LIETUVOS ELEKTRINĖ AB
(which ceased to exist upon reorganisation of LIETUVOS ENERGIJA AB and LIETUVOS
ELEKTRINĖ AB on 5 August 2011) on the terms and conditions set out in the
Resolution and the Order. 

“Lietuvos energija”, UAB will elaborate, no later than by 15 February 2016, a
procedure for the redemption of the shares of minority shareholders of LIETUVOS
ELEKTRINĖ AB (which ceased to exist upon reorganisation of LIETUVOS ENERGIJA AB
and LIETUVOS ELEKTRINĖ AB on 5 August 2011) and will publicly announce on it in
a source specified in the Articles of Association of “Lietuvos energija”, UAB 

A further notice will be published about next steps in the share redemption
process. 


         Valentas Neviera, Head of Corporate Communication Division, tel. +370
670 25997, e-mail. valentas.neviera@le.lt