Regarding the intention of AB “Ignitis grupė” to enter into an internal loan agreement of 73 million euros with AB “Energijos skirstymo operatorius”

April 5, 2022 11:20 a.m. EDT


News and research before you hear about it on CNBC and others. Claim your one week free trial for StreetInsider Premium here.


We inform that on April 5, 2022, the board of directors of AB “Ignitis grupė” (hereinafter – the Group) approved the conclusion of a loan agreement for 73 million euros (hereinafter – the ready) with AB “Energijos skirstymo operatorius” (hereinafter – ESO). Loan funds will be used to set up smart meters and related IT solutions for data collection and management (More information).

The loan will be financed using funds received from the European Investment Bank (More information). Maturity date of the loan – February 14, 2038. The agreement does not include additional measures guaranteeing the fulfillment of obligations.

It is important to note that during the Ordinary General Meeting of Shareholders of the Group held on March 29, 2022 a new drafting of the Group’s articles of association (link) has been approved, when, in accordance with the updated article 30.14, the materiality threshold applied for the aforementioned agreement has passed (the exceeding of which requires the opinion of the audit committee and the approval of the supervisory board of the group) from 1/50 of the authorized capital of the Group to 1/10 of the value of the assets indicated in the last published audited balance sheet of the Group. Respectively, the Group Audit Committee will be asked to give its opinion and the Group Supervisory Board will be asked to approve the conclusion of the transaction only if the new version of the Group’s bylaws is approved at the Ordinary General Meeting of Shareholders held March 29, 2022 will not be registered in the public register before the date of signature of the Loan Agreement.

The agreement will be signed shortly, the Group will not announce its signing in a separate notice of significant event.

In the future, the Group will not publish significant event notifications on internal loan agreements that do not exceed the materiality threshold provided for in the bylaws. All information on related party agreements will be available on the Group’s website (link).

For more information please contact:

Artūras Ketlerius
Public Relations Manager at Ignitis Group
[email protected]
+370 620 76076


Serious news for serious traders! Try StreetInsider.com Premium for free!


You may also be interested in


Leslie M. Gill