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The Court allowed to transfer shares

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Ignitis grupė
·3-min read
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The Court allowed to transfer Ignitis Gamyba shares to Ignitis Grupė

AB “Ignitis grupė” (hereinafter – the Company) informs that on 30 April 2021 the Vilnius District Court (hereinafter – the Court) made a decision to approve the Company’s statement on the establishment and recognition of a fact of legal significance that the right of ownership of 11 113 442 out of 11 688 245 unsold shares of its subsidiary AB “Ignitis gamyba” (hereinafter – Ignitis Gamyba) during the mandatory buyout must be transferred to the Company and obliged the shares account managers to make records of the transfer of the rights of ownership to the Company. The document of the Court’s decision will be announced on the Company’s website (link).

The Company believes that the Court’s decision is lawful and reasonable and that it fully complies with the requirements of legal acts. The Court allowed the decision to be enforced urgently, however, the Court’s decision may be appealed within 30 days from the moment of its adoption.

It must be noted that the Court has divided the Company’s statement earlier into two separate cases – a case where the stakeholders are the deceased shareholders of Ignitis Gamyba and a case where the stakeholders are all the remaining shareholders of Ignitis Gamyba. The Court decision is related only to Ignitis Gamyba shares, the owners of which were not identified as deceased. Surnames or names of legal entities of the persons who owned shares in respect of which the Court made a decision can be found in a specialised website www.teismai.lt, in a court notice section https://pranesimai.teismai.lt/teismu_pranesimai/.

After the decision of the Court, the Company will not acquire 100% of Ignitis Gamyba shares, the process will be continued until the Court will make a decision in respect of the remaining part of the statement, i.e. the excluded case where the shareholders of Ignitis Gamyba are identified as deceased (more about the process).

Settlement with minority shareholders

Regarding the fact that the Court allowed the decision to be enforced urgently, the payout for shareholders will be initiated immediately, without waiting for the decision to take effect. For Ignitis Gamyba minority shareholders, who are participants in this case, and who hold shares in private accounts money will be transferred for the shares by their share account managers on 13 May.

Shareholders who hold shares in the issuer’s accounts must contact SEB bank from 13 May and make a request to transfer the money for the shares to the indicated cash account:

  • SEB bank clients could do that at SEB bank’s branches or at SEB internet bank. It should be indicated which company’s shares must be paid for and the number of the private account to which the money should be transferred

  • Non-SEB bank customers can submit a request to transfer the money for the shares by booking a meeting time at a SEB bank’s branch in advance. Persons must have an identity document at the time of the visit.

We remind you that the settlement price per one Ignitis Gamyba share is equal to EUR 0.64. Funds for the shares will be kept in the deposit account until the final settlement with all shareholders, i.e. there is no final date when the shareholders must apply for the settlement for the shares.

More information in case of extra questions

All relevant information about the process of the case and answers to frequently asked questions will be available on the websites of the Company (link) and Ignitis Gamyba (link).

Should you have additional questions, please contact:

1. regarding the payment for shares:

  • to shareholders who hold ESO shares in their personal securities accounts – your securities brokerage

  • to shareholders who hold ESO shares in the issuer’s accounts – SEB bank (Tel. +370 5 268 2800)

2. other inquiries:

For additional information please contact

Communication

Artūras Ketlerius

+370 6 207 6076

arturas.ketlerius@ignitis.lt

Investor relations

Ainė Riffel-Grinkevičienė

+370 6 431 4925

aine.riffel@ignitis.lt