Lietuvos Energija, UAB has paid up the newly issued shares of UAB LITGAS, subsidiary of AB Klaipėdos Nafta
On 8 October 2013 Lietuvos Energija, UAB acting in accordance with the Share Subscription Agreement signed between UAB LITGAS, a subsidiary of AB Klaipėdos Nafta (the “Company”), and Lietuvos Energija, UAB, on 1 October 2013, paid up all newly issued ordinary registered shares by UAB LITGAS (2 million units).
As announced by the Company in its notification on material event from 20 September 2013, by the decision of the Company, acting as the sole shareholder of UAB LITGAS, the authorised capital of UAB LITGAS is increased by LTL 2 million, that is exactly from LTL 1 million to LTL 3 million, by issuing 2 million ordinary registered shares of UAB LITGAS and granting the right to subscribe for all these shares to Lietuvos Energija, UAB). The control over LITGAS is being transferred to Lietuvos Energija, UAB following Resolution No. 730 of the Government of the Republic of Lithuania, dated 21 August 2013, in order to implement the requirements of the Third Energy Package of the European Union regarding natural gas and electricity markets of the European Union and of the Law of the Republic of Lithuania on Electricity to unbundle energy supply and production and energy transmission activities. After the increase of the authorised capital, the Company shall own 1/3, whereas Lietuvos Energija, UAB – 2/3 of all the shares and votes in the General Meeting of the Shareholders of UAB LITGAS.
The authorised capital of UAB LITGAS shall be deemed increased after the registration of the amended Articles of Association of UAB LITGAS with the Register of Legal Entities in accordance with the procedures provided for within the legal acts of the Republic of Lithuania.
