KN AUTHORISED CAPITAL IS PLANNED TO BE INCREASED

The authorised capital of KN (AB “Klaipėda nafta”), the operator of oil products and liquefied natural gas (LNG) terminals, will be increased through the additional issue of new registered shares. The authorised capital will be increased because of the transfer of ownership of the sports hall at Burių g. in Klaipėda to KN.
 
The major KN shareholder – the Ministry of Energy, will transfer the sports hall taken over from the Municipality of Klaipėda to KN as an additional contribution, therefore, the company will issue new ordinary registered shares, which the shareholders of the company may acquire through their priority rights pro rata with the nominal value of the shares they hold.
 
The total value of shares offered for acquisition will reach EUR 248 893.84. At his own discretion, each shareholder may choose not to subscribe on the offered shares or to subscribe on a lower amount of the shares than the maximum amount of the shares offered for subscription. The authorised capital of the Bank will be increased by the total amount of the nominal value of the subscribed shares. 
 
KN intends to use the transferred object for its operational purposes and potential development of its activities.
 
At present, the state owns 72.32% of KN shares, 10.39 % of shares belong to the concern “Achema”, and the remaining part of the company’s shares belong to minor shareholders, and the dealing in these shares takes place in “Nasdaq Vilnius” stock-exchange.
 
The increase of the authorised capital of KN must be approved by the company’s shareholders at the general shareholders’ meeting.