Kauno Energija

Legal Proceedings Report • Feb 29, 2012

Disclosure 297800

Kauno Energija AB - Other information

Information regarding negotiations with UAB Kauno termofikacijos elektrinė

Kaunas, Lithuania, 2012-02-29 15:54 CET (GLOBE NEWSWIRE) -- A negotiations group formed by AB “Kauno energija” seeking to implement a protocol decision of the session of Kaunas city council from 8 of December, 2011, No. TP-18, had been implementing a negotiations with UAB Kauno termofikacijos elektrinė regarding the modification and fulfilment of Investments agreement from 31 of March, 2003. A negotiations group stated that no settlement is reached at this time between both sides and that AB “Kauno energija” intends to further proceed the negotiations by initiating expansion of the matter of negotiations. It will be intended to apply to the Managing Board of AB “Kauno energija” regarding the authorization for further negotiations. AB “Kauno energija” expects, that a rational settlement for both sides and for Kaunas city will be reached. The main purpose of AB “Kauno energija” in those negotiations is to reduce the price of heat for consumers, to ensure the cooperation from one side and to create a conditions for competition between a producers in Kaunas city. Head of Asset Management department Jovita Sereikienė +370 37 305664