Regarding UAB LITGAS Share Purchase and Sale Agreement
The shares of UAB LITGAS owned by the Company amounted to 15 000 000 ordinary registered shares of nominal value of EUR 0,29 each. UAB LITGAS shares are sold considering the value of 33, 33 per cent shares as to 31 of March, 2016 set by independent property valuator. Transaction amount - 4 350 000 EUR, including the dividends paid by UAB LITGAS. The Company’s statement of comprehensive income for 2016 will account for 310 000 EUR profit before tax, related to the investment in UAB LITGAS.
The Company transferred all shares owned in UAB LITGAS, therefore Lietuvos Energija, UAB owns 100 per cent of UAB LITGAS share capital.