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Provider: GlobalData
$125.00
Provider: GlobalData
$125.00
Provider: GlobalData
$125.00
Provider: GlobalData
$125.00

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Commission Approves Terms and Conditions of Lietuvos dujos AB's Spin-off


Thursday, 28 Feb 2013 09:23am EST 

Lietuvos dujos AB (LD) announced that the National Control Commission for Prices and Energy (the Commission), having reviewed the Terms and Conditions of the spin-off of LD approved by the Board of Directors (BD) of LD on January 30, 2013, stated that LD submitted the Terms and Conditions of the Spin-off by the deadlines set in the plan of actions for the Company‚Äôs spin-off approved by the BD of LD of May 28, 2012; the terms and conditions of the spin-off approved by the BD of LD on January 30, 2013 provide conditions for the proper implementation of the un-bundling of the natural gas transmission activity under paragraph 8.1 of the Plan on Performing the Un-bundling of Activities and Control of Natural Gas Companies that do not Conform to the Requirements of the Law on Natural Gas of the Republic of Lithuania, so that the legal, functional and organizational un-bundling of the natural gas transmission activity of LD would have been completed by no later than July 31, 2013; and the composition of assets to be transferred to the company, which will carry out the natural gas transmission activity, conforms to the asset allocation principles provided in the Description of the Procedure of Accounting for Activities of LD approved by the Commission under resolution O3-363 of October 28 2011, and the investments approved by the Commission under resolution O3-293 of October 9, 2012. It is planned to publish the terms and conditions of the spin-off on March 7, 2013. 

Company Quote

0.64
-0.0010 -0.16%
19 Dec 2014