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Provider: GlobalData
$125.00

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Lietuvos dujos AB Announces Further Details Regarding Publication of Terms and Conditions of Its Spin-off


Thursday, 7 Mar 2013 12:00am EST 

Lietuvos dujos AB (LD) announced that it has published the Terms and Conditions of the Spin-off (TCS) of LD approved by LD’s Board of Directors decision of January 30, 2013 and the resolution O3-64 of the National Control Commission for Prices and Energy (NCCPE) of February 28, 2013. The TCS were prepared on the basis of the decision of LD’s Extraordinary General Meeting of Shareholders of May 28, 2012 and the resolution O3-145 of NCCPE of June 15, 2012. The spin-off of LD is carried out by way of division. A part of LD’s activities, which is comprised of the natural gas transmission activity carried out by LD, will be spun off from LD which continues its activities and a new company of the same legal form will be established on the basis of the assets, rights and obligations attributed to that part, AB Amber Grid (AG). The shares of AG and LD which continues the activities after the spin-off will be distributed to all the shareholders in proportion to their shares in the authorized capital LD. The legal entity, which will continue its activities after the spin-off, is LD, and the legal entity, which will commence its activities after the spin-off, is AG. The part of LD’s activities to be spun off will be transferred to AG from the moment of the signing of the respective transfer and acceptance deed for the assets, rights and obligations. It is planned that AG will submit an application to AB NASDAQ OMX Vilnius to list its shares on the Exchange Trade List. 

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18 Sep 2014