On 18 May 2020 international energy company Ignitis Grupė started the mandatory buyout of shares of its subsidiary Ignitis Gamyba, AB.
All remaining shareholders of Ignitis Gamyba must sell their shares to Ignitis Grupė within 90 calendar days from the public announcement about the mandatory buyout. The last day when the shares can be sold under the mandatory buyout is 17 August.
At the time of the mandatory buyout of shares, the Company offers the price agreed with the Bank of Lithuania for the shares, which is the same as those paid during the non-competitive tender offer. At the time of the mandatory buyout, EUR 0.640 will be paid for one Ignitis Gamyba share
The buyout of Ignitis Gamyba shares will be conducted on the Nasdaq Vilnius tender offer market in accordance with the rules of the Nasdaq Vilnius regulated market. Shareholders may give orders for their securities account manager, and those who do not have a securities account management agreement should apply to a securities account manager of their chose for such an agreement and submit an order to sell shares during the mandatory buyout. Orders can be submitted during the entire mandatory buyout. Transactions for the sold shares will be concluded during the last day of the mandatory buyout (August 17, 2020). Completed transactions will be settled on the second day following the conclusion of the transaction.
In the case the shareholders do not sell their shares of Ignitis gamyba by the end of the mandatory buyout, i.e. 17 August 2020, Ignitis Grupė, after having made payments to the deposit account of shareholders who did not sell shares, will acquire the right to apply to the court, requesting that the account managers of the shares make records on the transfer of ownership of shares to Ignitis Grupė.
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