Concerning the decision to extend the Long Stop Date of Stabilized securities
Concerning the decision of the Management Board of AB Ignitis grupė to extend the Long Stop Date of Stabilized securities
AB Ignitis grupė (hereinafter – Ignitis grupė or the Company) hereby informs that on 7 July 2021, with the approval of the Board of the Company, the Company has signed an agreement according to which the date of the agreement with Swedbank AB (publ) (hereinafter – Swedbank or the Stabilization Manager) described in the Company’s initial public offering (hereinafter – IPO) prospectus, from which the Stabilization Manager shall have the right to freely dispose of the securities purchased during stabilization, is changed to 1 July 2022 (previously 7 May 2021) (hereinafter – Long Stop Date). Prior to this date the Stabilization Manager may transfer or dispose of the stabilized securities in dialogue with the Company. It should be noted that the conditions of the arrangements with the Stabilization Manager regarding settlement of the stabilization related services provided, as described in the Company’s IPO prospectus (Part 17, starting paragraph 10, page 330), remained unchanged.
In order to maintain the market price of the issued securities after the Company’s IPO and in accordance with common practice in the developed capital markets, the Company entered into agreements with Swedbank, AB, which were first announced by the Company on 4 September 2020 together with the registration document. On 6 October 2020, in accordance with the right provided for in the agreements, Swedbank, AB transferred all its rights and obligations under the agreements to Swedbank AB (publ). Pursuant to the concluded agreements, Swedbank AB (publ) has taken over the rights and obligations of the Stabilization Manager, and Swedbank, AB shall act as an intermediary of the Stabilization Manager.
Pursuant to the agreements with the Stabilization Manager, Swedbank had the right within 30 days from the beginning of the Company’s securities trading on the Nasdaq Vilnius and London Stock Exchanges (7 October 2020), i.e. until 5 November 2020 (hereinafter – Stabilization Period), to jointly acquire no more than 10 percent of the newly issued shares of the Company publicly traded on the Nasdaq Vilnius Stock Exchange or international depository receipts representing the shares publicly traded on the London Stock Exchange at the secondary market price below the IPO offer price (EUR 22.50). Accordingly, the Stabilization Manager acquired 631,938 units of ordinary registered shares issued by the Company and 1,368,061 units of international depository receipts representing shares (hereinafter – Stabilized Securities). The total acquisition cost of the Stabilized Securities is EUR 42,910,827.15.
The decision to extend the Long Stop Date with respect to the Company’s shares acquired by Swedbank during the Stabilization Period was made to ensure further fulfilment of the Stabilization Manager’s obligations until further decisions, related to the Stabilized Securities, which the Company evaluated as announced on 7 May 2021 (link), will be made.
The Company shall provide information on the adopted decisions in accordance with the procedure established by legal acts.
For more information please contact:
Artūras Ketlerius
Head of Public Relations at Ignitis Group
arturas.ketlerius@ignitis.lt
+370 620 76076
