The deadline for minority shareholders of the former LIETUVOS ELEKTRINĖ, AB to take the advantage of a possibility to redeem the shares expired yesterday. The money for the redeemable shares will be paid to the shareholders within May.
The shares of the former LIETUVOS ELEKTRINĖ, AB offered for redemption are equated at a set ratio to the shares of the currently operating energy producer Lietuvos Energijos Gamyba, AB.
Based on the data available today, more than 1000 minority shareholders, who entered into share purchase and sale agreements with the purchasing company Lietuvos energija, UAB, have already taken the advantage of the possibility to sell their shares. SEB Bank, AB implementing the process of share redemption has reported that the data of even more than one hundred more shareholders, who have submitted their documents within the last days before the deadline, are in the process of verification. The final numbers of the share sellers and the shares sold, which will be owned by Lietuvos Energija, UAB in consequence of the redemption, will be reported separately.
The money for the redeemable shares will be transferred to the bank accounts indicated by the shareholders not later than within 30 calendar days from the expiry of the deadline for document submission. Lietuvos Energija, UAB is seeking to settle with the shareholders in the shortest possible period, thus it is planned that the money for the redeemable shares will reach all shareholders having entered into the agreements even in May.
1.37 shares of the currently operating company Lietuvos Energijos Gamyba, AB is given for one share of LIETUVOS ELEKTRINĖ, AB. The fixed price of 1.2959 Euro is paid per redeemable ordinary registered share of Lietuvos Energijos Gamyba, AB.
In accordance with the new version of the Law on Personal Income Tax with effect from 1 January 2016, the shareholders having taken the advantage of this redemption will be obliged to calculate, declare and pay the personal income tax (15 per cent) themselves when filing tax declarations for 2016.
Those, who have failed to make use of their right to sell their shares on this specific redemption or submit the necessary documents for the redemption of shares, will have no more opportunity to take the advantage of selling their shares on this price and will continue to be the shareholders of Lietuvos Energijos Gamyba, AB, and will be able to trade their shares on the exchange.
Please be reminded that only those shares, which were held under the right of ownership by minority shareholders no later than since 5 August 2008 and which during the reorganisation of LIETUVOS ELEKTRINĖ, AB on 5 August 2011 were converted into the shares of the current Lietuvos Energijos Gamyba, AB, are subject to this redemption. Shares transferred to third parties are not redeemable. The shares, which were transferred to third parties between 5 August 2008 and the day of redemption of the shares, but were re-acquired by shareholders during this time period, are not redeemable as well. Should it be impossible to determine, which shares of the same type and without individual features were transferred before the moment of redemption, the earliest acquired shares shall be deemed to have been transferred.