LITGRID - Notification on material event
Concerning the opinion of the Audit Committee
Lithuanian electricity transmission operator LITGRID AB (business ID 302564383, registered office address A. Juozapavičiaus 13, LT-09311, Vilnius, Lithuania), informs that on 4th June 2019 the opinion of The Audit Committee of the holding company UAB EPSO-G was received on an intended transaction for energy savings transfer from LITGRID AB to AB “Amber Grid” (hereinafter referred to as Transaction).
On 31 May 2019 the Audit Committee of EPSO-G UAB considered the transaction and stated that:
- Transaction’s compliance with the market conditions is not assessed due to the reason it is concluded pursuant to the requirements of Law on Energy Efficiency Improvement of the Republic of Lithuania.
- Transaction is fair and based on all AB “Amber Grid” and LITGRID AB shareholders’ interests because it is concluded in order to fulfill requirements laid out in the Law on Energy Efficiency Improvement of the Republic of Lithuania, also Transaction have not caused any losses for AB “Amber Grid”.
- It is recommended for the governing bodies of the subsidiaries to include the risk of uncertainty of the Transaction’s regulation into the Risk management plan and, in case the circumstances and / or uncertainties of the Transaction’s regulation change, to assess the need to change the material terms of the Transaction.
The individual authorized by LITGRID AB to provide additional information:
Jurga Eivaitė
Head of Communication Division
phone: +370 613 19977
e-mail: jurga.eivaite@litgrid.eu