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Bank of Lithuania Notifies City Service AB Regarding Delay in Filing

Thursday, 7 Mar 2013 12:00pm EST 

City Service AB announced that on March 5, 2013, the Director of Supervision Service of the Bank of Lithuania has adopted the notification decision regarding City Service AB on the breach of paragraph one of article 18 of Law on Securities of Lithuania. City Service AB has not published through NASDAQ OMX Vilnius stock market the information about the planned structural changes and about the Company‚Äôs Board decision, adopted on the June 19, 2012, to submit a non-binding proposal for participation in Zespol Zarzadcow Nieruchomosci WAM Sp.z.o.o privatization process, which the Bank of Lithuania considers to be the material events. Also, the Company has delayed for two days to publish the announcement about the Board decision on convene of shareholders meeting on approval of audit company. There were no illegal incomes or other benefits due to the mentioned breaches, stated the Bank of Lithuania. The Bank of Lithuania by imposing notification has taken into account the Company's cooperation with the bank. The Company does not intend to appeal the decision of the Director of Supervision Service of the Bank of Lithuania. 

Company Quote

19 Dec 2014