2020-05-06
Equity squeeze-out prices of the companies AB Ignitis gamyba and AB Energijos skirstymo operatorius were approved
UAB Ignitis grupė applied to the Bank of Lithuania, asking to approve the equity squeeze-out prices of AB Ignitis gamyba and AB Energijos skirstymo operatorius, as it is established in the Law on Securities – if, through acceptance of the bid, the offeror has not acquired securities representing no less than 90% of the shares, in respect of which the takeover bid was submitted, the equity squeeze-out price has to be approved ahead of time with the supervisory authority.
The Supervision Service of the Bank of Lithuania assessed the prices per share offered by UAB Ignitis grupė. For one ordinary registered share of AB Ignitis gamyba with €0.29 nominal value – €0.640 would be paid, while for one ordinary registered share of AB Energijos skirstymo operatorius with €0.29 nominal value – €0.880. These prices do not differ from the prices for one share, submitted during the takeover bids.
In addition, with UAB Ignitis grupė offering to pay dividends, and this approved by the shareholder meetings of AB Ignitis gamyba and AB Energijos skirstymo operatorius, all the minority shareholders of the two companies, regardless of whether they sold all the shares during the take-over bid, or if they will sell them during the squeeze-out, will receive dividends or compensation in the amount of the dividends.