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Concerning the opinion of the Audit Committee

·1-min read

Lithuanian electricity transmission operator LITGRID AB (business ID 302564383, registered office address Viršuliškių skg. 99B 13, Vilnius, Lithuania) announces that on 1 June 2021 the opinion of the Audit Committee of the parent company UAB EPSO-G (hereinafter – EPSO-G) about the intention to conclude the agreement between LITGRID AB and related party UAB EPSO-G (hereinafter – the Transaction) on the transfer of tax losses to LITGRID AB has been received.

On 1 June 2021, the Audit Committee of EPSO-G considered the Transaction and issued an opinion:

  1. compliance of the Transaction with market conditions is not assessed due to the reason that the Transaction is executed exclusively in accordance with requirements established in the Article 561 of the Law on Corporate Income Tax of the Republic of Lithuania (hereinafter – the Law on Corporate Income Tax), i.e. pursuant to the Article 561, the Transaction could not be entered into with an entity other than a group entity;

  2. the Transaction is fair and reasonable with respect to all shareholders of LITGRID AB as the transfer of tax losses is carried out in accordance with the Article 561 of the Law on Corporate Income Tax and LITGRID AB does not incur any losses due to the Transaction.

The individual authorized by LITGRID AB to provide additional information on the material event:
Jurga Eivaitė
Communications Manager
tel. +370 613 19977 e-mail: jurga.eivaite@litgrid.eu


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