Regarding the Decision of the Court LESTO AB (he
Post# of 301275
LESTO AB (hereinafter – LESTO), identification code 302577612, registered office placed at Aguonu str. 26, Vilnius, Republic of Lithuania. The total number of registered ordinary shares issued by company is 603 944 593; ISIN code LT0000128449.
LESTO informs that on 22 December 2015 Vilnius Regional Administrative Court decided to dismiss the Company’s appeal regarding partial withdrawal of National Commission’s for Energy Control and Prices decisions No. O3-841 and No. O3-845 dated 17 October 2014
In Company’s opinion, decisions by National Commission for Energy Control and Prices unlawfully extended the regulatory period of year 2011-2013 for the year 2015 and fixed electricity distribution price cap incorrectly, failing to assess the Resolution No. 1026 on the establishment of Principles and provisions of State-regulated prices in the electricity sector, approved by the Government of the Republic of Lithuania on 24 September 2014, and improperly counting the applicable rate of return (WACC) for the year 2015.
LESTO does not agree with the court decision and intends to appeal according to the procedures.
Information is not confidential.
Representative for Public Relations Martynas Burba, tel. (8~5) 2514516.
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