28 April 2004 07:42
Lietuvos Dujos approves share issue
VILNIUS. April 28 (Interfax) - Shareholders of Lithuanian gas utility Lietuvos Dujos approved a 170.4-million litai
share issue to facilitate the implementation of an investment pledge, the company said in a statement for the national
stock exchange.
Russia's Gazprom bought 34% of Lietuvos Dujos in March this year. It, the Lithuanian State Property Fund and
Germany's Ruhrgas signed a shareholder agreement by which Gazprom and Ruhrgas would invest 140 million litai into
the company on equal terms.
Gazprom and Ruhrgas will buy 140 million litai in new shares and other shareholders will buy the rest of the issue in
proportion to their stakes.
The investment will finance the expansion of the gas utility's trunk pipeline system and other development
projects.
Ruhrgas owns 35.69%, Gazprom 34% and the State 24.36% of the shares in Lietuvos Dujos.
The shareholders also accepted 2003 dividends of 0.0645 litai on shares, which have par value 1 litas each. A total
of 22 million litai will be paid.
The company sold 828.1 million cu m of gas in 2003, 42.4% more than
in 2002. This was 29% of the gas consumed in Lithuania. Gas sales in
Lietuvos Dujos paid 0.042831 per share or a total of 14.658 million litai for 2002.
Net profits were 68.4 million litai in 2003, 19.3% more than in 2002.
Lietuvos Dujos buys, transports and distributes gas. It operates 1,630 kilometers of high-pressure gas pipeline and
employees 2,200 people. It owns one compressor station, one gas measuring station and 58 gas distribution stations.
value grew 16% to 468.4 million litai.
The litas is pegged at 3.4528 against the euro. [LT EUROPE EEU EMRG ENR NGS TR3D DIV STX CORA DE RESF] pr
[Interfax] |
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