AB “Ignitis grupė” intends to sign a guarantee with NASDAQ Clearing AB
AB “Ignitis grupė” (hereinafter – ‘Ignitis Group’ or ‘the Company’) informs that on 18 May 2021 the Management Board of the Company approved the conclusion of the agreement with NASDAQ Clearing AB on the issue of guarantee for the potential obligations of its subsidiary UAB “Ignitis” to NASDAQ Clearing AB. Guarantee amount reaches EUR 110 million.
The guarantee is issued for a fee, therefore, the Management Board of the Company also approved the conclusion of the guarantee service agreement between the Company and UAB “Ignitis” with a value of EUR 110 million while retaining the possibility to increase this amount by 30% with individual agreement of both parties. The latter agreement is concluded under market conditions and the Audit Committee will be applied to regarding it. Its conclusion will be published on the Company’s website (link).
Both contracts align with Ignitis Group strategy of Customers & Solutions segment and thus ensure the uninterrupted trading of UAB “Ignitis” in the Nasdaq stock exchange.
Both the guarantee agreement with NASDAQ Clearing AB and the guarantee service agreement with UAB “Ignitis” will be concluded only after receiving the approval from the Supervisory Board. We will inform about the decisions of the Supervisory Board in a separate notice.
According to the assessment of the Company, the contracts will not have a significant impact on the company’s activities.
For more information please contact:
Head of Public Relations at Ignitis Group
+370 620 76076