UAB Ignitis Grupe entered made an offer to acquire remaining 3.18% stake in AB Ignitis gamyba (NSEL:LNR1L) from minority shareholders for €13.2 million on March 30, 2020. Under the terms, €0.0640 per share will be paid as a part of the consideration. As a part of the acquisition, there will be no change in the business and structure of the company. The Board of the Company notes that it makes no recommendations to the minority shareholders as to acceptance or rejection the Official tender offer. The transaction was approved by Bank of Lithuania on March 30, 2020. The offer period will commence on April 3, 2020. The transaction is expected to be settled on April 22, 2020. The company may evaluate the need to extend the terms of the tender offer if required.

UAB Ignitis Grupe completed the acquisition of 3.18% stake in AB Ignitis gamyba (NSEL:LNR1L) from minority shareholders on April 22, 2020. Ignitis Grupe plans to initiate the mandatory repurchase of shares of GEN and apply to the Supervision Service of the Bank of Lithuania with a request to coordinate the prices of mandatory share repurchase. Ignitis Grupe plans to provide the same price for required share buy-out that was paid during the tender offer. On May 4, 2020, The Bank of Lithuania approved the price at which Ignitis Grupe will offer the mandatory share buy-out of Ignitis Gamyba shares. The price of the mandatory share buy-out €0.640 will be paid for one share of AB Ignitis gamyba which same as the tender offer. The buy-out will last for 90 days. It should be noted that after the expiry of the 90-day mandatory share buy-out, Ignitis Grupe, by having made payments to the deposit account of the shareholders who did not sell the shares, will acquire the right to apply to the court for transfer of ownership of the unsold shares to Ignitis Grupe.