Ignitis Group became the sole shareholder of Ignitis Group Service Centre

Ignitis Group, the renewables-focused integrated utility, became the sole shareholder of its subsidiary, Ignitis Group Service Centre, after the subsidiary's shares were consolidated. Since 21 December 2023 Ignitis Group is holding 100% of the subsidiary’s shares.

Previously, four companies held the shares of Ignitis Group Service Centre: Ignitis Group held 50.47%, Energijos Skirstymo Operatorius held 26.40%, Ignitis Gamyba held 21.45% and Ignitis held 1.68% of the company's shares. 

This shareholder composition was a consequence of historical decisions, however, after carrying out a legal analysis, it was decided that it would be more beneficial for the Group to consolidate the shares of Ignitis Group Service Centre. This decision was supported by the Boards of all previous shareholders. 

On 21 December Ignitis Group Service Centre’s shareholders transferred all their shares to Ignitis Group. This transition will simplify Ignitis Group Service Centre's management processes as it will allow to make important decisions more quickly, and the time of the Boards of the Group companies will be used more efficiently.