Natural Gas Transmission System Operator
31.05.2012
The Description of the Methods for the Unbundling of Activities and Control Selected by AB Lietuvos Dujos Submitted to the National Control Commission for Prices and Energy
The information hereunder was posted by AB Lietuvos Dujos, which carried out natural gas transmission activities before the establishment of AB Amber Grid.

Today, on 31 May 2012, AB Lietuvos Dujos (hereinafter referred to as the “Company”), in compliance with the requirements of the legal acts of the Republic of Lithuania and implementing the resolutions of the General Meeting of Shareholders and the Board of Directors of the Company, has submitted to the National Control Commission for Prices and Energy the Description of the selected methods for the unbundling of the Company’s gas transmission activity and control and gas distribution activity together with the unbundling action plans, providing for the legal, functional and organizational unbundling of the Company’s natural gas transmission activity by 31 July 2013 and for the implementation of the unbundling of control of the transmission activity as well as the legal, functional, and organizational unbundling of the Company’s natural gas distribution activity by 31 October 2014.

In the Extraordinary General Meeting of Shareholders held on 28 May 2012, the Company’s shareholders decided to perform the unbundling of the transmission activity of AB Lietuvos Dujos in accordance with the terms provided for by the legal acts by spinning off a part (i.e. the activity of natural gas transmission of the Company) from the Company, which continues its activity, and establishing a new company on the basis of the assets, rights and obligations attributed to the activity of natural gas transmission of the Company as provided for by Article 71 of the Law on Companies of the Republic of Lithuania.

In addition, the Company’s General Meeting of Shareholders decided to perform the unbundling of the distribution activity by establishing a subsidiary of AB Lietuvos Dujos and by transferring the natural gas distribution activity (complex of assets) to such subsidiary together with the assets, rights and obligations attributed to such activity as contribution in kind for the newly issued shares of the subsidiary in accordance with the terms provided for by the legal acts.

The Board of Directors of the Company was entitled to prepare the Terms and Conditions of the Spin-off of the Company, as well as adopt all other decisions required for the implementation of the unbundling of activities.

In compliance with the resolutions adopted by the General Meeting of Shareholders and the applicable legal acts of the Republic of Lithuania, on 28 May 2012, the Board of Directors of the Company approved the Description of the methods for the unbundling of the Company’s gas transmission activity and control and gas distribution activity together with the unbundling action plans.

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