The Court allowed to transfer ESO shares to Ignitis Grupė
AB “Ignitis grupė” (hereinafter – the Company) informs that on 2 April 2021 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 all unsold shares of its subsidiary AB “Energijos skirstymo operatorius” (hereinafter – ESO) 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 here.
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.
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. ESO's shareholders who holding shares in private accounts will be transferred money for the shares by their share account managers on 15 April.
ESO shareholders who hold shares in the issuer’s accounts must contact SEB bank from 15 April 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 branches or at SEB internet bank. It should be indicated which company’s shares must be paid for and the number of 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 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 ESO share is equal to 0.88 Eur. Funds for shares will be kept in a deposit account until full settlement with all shareholders, i.e. until the deadline by which shareholders must apply for settlement of shares.
Dividends for the year of 2020
The Ordinary General Meeting of Shareholders of ESO held on 30 March, 2021, adopted the resolution (link) to distribute the profit (loss) of ESO for 2020 and to allocate dividends for ESO shareholders of EUR 0.062 per share of ESO for the year of 2020. Only the persons who are shareholders at the end of the rights accounting day of the ESO's shareholders, i.e. at the end of 14 April 2021, shall have the right to receive dividends. The dividends will be paid to such persons in accordance with the provisions of Article 60 (5) of the Law on Companies of the Republic of Lithuania, i.e. within one month from the day of adoption of the decision to pay dividends, to the managers of the ESO's shareholders' securities accounts through the Lithuanian branch of Nasdaq CSD SE.
We confirm that, notwithstanding the positive decision of the Court on the transfer of ownership to the Company, all persons who are shareholders of ESO at the end of April 14 2021 (inclusive) will receive dividends.
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 ESO (link).
Should you have additional questions, please contact:
- 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)
- other inquiries:
- email IR@ignitis.lt
- tel. 1802
For more information please contact:
Head of Public Relations at Ignitis Group
+370 6 207 6076