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Published: 2021-12-02 08:00:00 CET
Ignitis grupė
Acquisition or disposal of the issuer's own shares

On the decision of AB “Ignitis grupė” Management Board regarding the acquisition of own shares

AB “Ignitis grupė” (hereinafter – the Group) informs that on 2 December 2021 the Management Board of the Group (hereinafter – the Management Board), according to the resolution of the General Meeting of Shareholders of 29 July 2021 (link), adopted a decision to execute the acquisition of ordinary registered shares of the Group (ISIN code LT0000115768, hereinafter – ORS), with a nominal value of EUR 22.33, and the it’s conditions:

  1. ORS acquisition shall be executed through AB “Nasdaq Vilnius” stock exchange auction for tender offers and purchase of own shares with AB SEB Bankas acting as an intermediary;
  2. ORS acquisition period: 6 December 2021 – 14 December 2021 (inclusive);
  3. ORS purchase price: EUR 18.50 per ORS (the price corresponds to the price range approved by the General Meeting of Shareholders of 29 July 2021 (link));
  4. the maximum number of ORS to be acquired: 1 243 243 shares;
  5. total maximum price for ORS acquisition: EUR 23,000,000 (equal to a reserve formed for the acquisition of own shares (link));
  6. should ORS bids exceed the maximum number of ORS to be acquired, all ORS bidders shall have the number of their offered ORS reduced proportionally;
  7. settlement date: 16 December 2021.

Market participants who want to sell the ORS they own to the Group before the end of the acquisition term should submit an order through the bank or financial broker where they have a personal securities account open to sell the ORS they own to the Group. The owners of Global Depositary Receipts representing the ORS (hereinafter – GDR) who want to participate in the ORS auction, should convert the GDR they own to ORS through their securities manager and then submit an order to sell their ORS to the Group. GDR owners should take into account the specifics of legal regulation of the derivatives they own as well as market differences. Both the ORS and the GDR owners must consult their securities manager regarding all questions.

The Group reminds that the purpose of the ORS acquisition is the reduction of share capital by annulling the ORS acquired by the Group in relation to the stabilisation of shares that occurred after the initial public offering of 5 October 2020 (hereinafter – IPO). You can find more information about the stabilisation that occurred after the IPO in the pages 5–7 of the notification on the convening of the General Meeting of Shareholders of 7 July 2021 (link). Accordingly, the Group notices that the OSR acquisition price does not reflect the Group’s view on its fair value.

The ORS acquisition will ensure that shareholders of the Group receive higher returns per ORS and will result in a positive financial effect for the Group because as its current ORS market price is lower compared to IPO offer price (EUR 22.50).

It must be noted that in order to reduce the share capital of the Group by annulling the ORS, a separate resolution of the General Meeting of Shareholders must be adopted. The Group will inform about further actions according to the procedure set out in legal acts.

For additional information please contact: 

Artūras Ketlerius 
+370 620 76076 

Investor relations
Ainė Riffel-Grinkevičienė 
+370 643 14925