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Regarding questions that shareholders of AB Klaipėdos nafta asked in advance

Written by Customer Service on . Posted in Public Companies.

Please be informed that AB Klaipėdos nafta, legal entity code 110648893, address of the registered office Burių st. 19, Klaipėda (hereinafter – the Company), received questions from shareholders of the Company. Following paragraph 1 of Article 16¹ of the Law on Companies, we present answers to the shareholders’ questions:
1. What is the total price of the transaction to purchase a liquefied gas (LNG) ship-to-store by 2024, for which in the 12 December 2019 Extraordinary General Meeting of Shareholders it is proposed to vote regarding additional (or alternative) enforcement measures. What portion of the above transaction will be borrowed from the Nordic Investment Bank?The submitted question is not related to the agenda items of the General Meeting of Shareholders to be convened on 12 December 2019.On the other hand, the Company informs that, as a LNG terminal operator, it will fulfill the requirement of the Law on the Liquefied Natural Gas Terminal of the Republic of Lithuania and will select the most economically advantageous tender for the acquisition of the floating liquefied natural gas storage facility.The terms of the specific acquisition of FSRU and the final decision will be approved at a separate board meeting. The Company announced this in the notification of the material event on 5 November 2019. Reference to the material event:https://cns.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=909758&messageId=1146044The Company reminds that, 11 April 2018 Experts from the international company Pöyry Management Consulting presented a study stating that the estimated final price of the ship could range from 120 million to 160 million euros. The entire studio is accessible by clicking the following link: https://www.kn.lt/uploads/files/dir49/dir2/9_0.phpIt is noted that the answer into this question has already been submitted on 26 November 2019. Reference to the notification of material event:https://cns.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=912732&messageId=1149874
2. How much has already been issued by AB Klaipėdos nafta (including related companies) and how much will AB Klaipėdos nafta cost to issue the guarantees specified in the agendas of the Extraordinary General Meeting of Shareholders convened on 27 November 2019 and 12 December 2019?The submitted question is not related to the agenda items of the General Meeting of Shareholders to be convened on 12 December 2019.In addition, all guarantees will be acquired through public procurement by the lowest price criterion. Information on guarantees and their values will be made public in the public procurement information system of the Republic of Lithuania in the manner and to the extent prescribed by law.It is noted that the answer into this question has already been submitted on 26 November 2019. Reference to the notification of material event:https://cns.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=912732&messageId=1149874
3. What is the value of Subačius oil terminal, which AB Klaipėdos nafta already decided to pledge, although during the Extraordinary General Meeting of Shareholders propose to decide on additional (alternative) enforcement measures?The submitted question is not related to the agenda items of the General Meeting of Shareholders to be convened on 12 December 2019. In addition, requested information is confidential. It will remain so until it becomes public by the law.Please note that the Company uses independent qualified experts services to determine the value of the Subačius oil terminal.It is noted that the answer into this question has already been submitted on 26 November 2019. Reference to the notification of material event:https://cns.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=912732&messageId=1149874
4.  What is the value of present and future receivables (security component) of AB Klaipėdos and predict value?The submitted question is not related to the agenda items of the General Meeting of Shareholders to be convened on 12 December 2019.Despite of this, it is noted that the value of security component and the predicted value will depend on the regulator’s attributable costs, the regulated rate of return on investment and the purchase price of the LNG ship storage, which amount preliminary indicated in the answer to the first question.
5. How much guarantees AB Klaipėdos nafta is seeking to get in accordance with the decisions of 27 November 2019 and 12 December 2019 General Meeting of Shareholders?The Company in accordance with the decisions of 27 November 2019 and 12 December 2019 General Meeting of Shareholders is seeking to get one guarantee of the Republic of Lithuania, which would guarantee a loan of up to 135.5 million EUR from the Nordic Investment Bank.
6. What will be the total value of the guarantees sought to be granted on the basis of the 27 November 2019 and 12 December 2019 decisions of the General Meeting of Shareholders for the benefit of Höegh LNG Ltd and UAB Hoegh LNG Klaipėda?It is noted that the answer into this question has already been submitted on 26 November 2019. Reference to the notification of material event:https://cns.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=912732&messageId=1149874   

Jonas Lenkšas, Chief Financial Officer, +370 694 80594.

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