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According to Sigita Pranckėnaitė, member of the Board of the Investors Association, the association supports the agreement reached with Ignitis Grupė in mid-March, which increased the share prices of Ignitis Production and Energijos Skirstymo Operatorius (ESO) to buy back and offer of shares (IPO) to acquire a part of the shares of Ignitis Group.
“In March 2020, the Investors Association agreed with Ignitis Group an increase in the purchase prices of ESO and Ignitis Production, which brought more than 10 million LTL to small shareholders. Euros. We believe that since the original proposal, the 21%. Increase in ESO and 17 percent. The price of Ignitis Production is beneficial for all shareholders and corresponds to the value of these companies, so the Investors Association does not intend to participate in the new dispute, “he said. S. Panckėnaitė in the comment to BNS.
At the beginning of August, V. Martikonis applied to the Vilnius Regional Court to determine the correct price for the redeemable shares of Ignitis Production. According to Ignitis Group, the agreement signed with the Investors Association may lose its validity as a result of this lawsuit.
“Due to the demand received from V. Martikonis, Ignitis grupė will have to reevaluate whether it will be able to apply the right of first refusal to acquire Ignitis grupė to the minority shareholders of Energijos Skirstymo Operatorius (ESO) and Ignitis Gamyba, who sold their shares to the company during the public offering. shares during the initial public offering, as agreed, “Ignitis Group said in a statement.
The agreement reached in mid-March stipulated that the minority shareholders of ESO and Ignitis ražošanas will have a preferential right to acquire shares of Ignitis Group through an initial public offering for an amount equal to the number of shares they own multiplied by the redemption price. plus dividends paid for 2019.
At that time, V. Martikonis states that the terms of the agreement between the Investor Association and Ignitis Production have been met.
“I did not sign the agreement, it was signed by the Investors Association, from which I also received a lot of pressure for my plans (…) It will be seen that the provisions of the agreement. (…) We withdraw those demands,” said V Martikonis to BNS.
According to the businessman, he asked the court to familiarize himself with the documents of Ignitis Group’s planned initial public offering and to assess whether minority shareholders are not underpaid for the shares.
Until August 17, Ignitis grupė will carry out the mandatory redemption of ESO and Ignitis gamyba shares at prices agreed with the Bank of Lithuania on May 4. During the mandatory share sale, € 0.88 is paid for an ESO share and € 0.64 for an Ignitis Gamyba share.
According to the company, the lawsuit of V. Martikonis does not affect the process of delisting of the shares of Ignitis Production and ESO on the regulated market, which was completed on July 1, and the mandatory sale in progress of the shares of Ignitis Production and ESO or the company’s preparation for the IPO.
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