Background on the Upcoming Shareholder Meeting
AB PST Group, referred to as the 'Company,' is preparing for a significant shareholder meeting where crucial decisions regarding its stock will be discussed. This meeting is scheduled and will be a pivotal moment for stakeholders.
Shareholder Meeting Details
The extraordinary general meeting is set to take place at 10:00 a.m. on June 30, 2025. This meeting is particularly important as the Board has decided to convene this gathering to address the delisting of the Company's shares from the AB Nasdaq Vilnius market.
In advance of the meeting, the Board has made a recommendation to shareholders who support the delisting. These shareholders are encouraged to submit their draft resolutions related to the meeting agenda by June 5, 2025.
Proposed Draft Resolutions
One noted shareholder, AB 'HISK,' has submitted draft decisions to be considered during the upcoming meeting. The primary proposal addresses the delisting of shares:
1. Delisting of Shares
Draft resolution for consideration includes:
1.1. To initiate the delisting of all outstanding shares from AB Nasdaq Vilnius.
This resolution outlines a few critical points:
1.2. Despite the obligations laid out in Article 33(7) of the Law of the Republic of Lithuania on Securities, the proposed system would allow shareholders who vote in favor of the delisting to do so without the requirement to submit a tender offer.
- Only AB 'HISK' will be responsible for submitting the tender offer to the Bank of Lithuania for approval aimed at delisting the shares from trading.
- All other shareholders will have the right, although not the obligation, to sell their shares during the tender offer period.
- The validity of the decisions made during the meeting is conditional upon the tender offer price not exceeding an amount specified in the meeting.
1.3. The tender offer price set for delisting the shares will be established at EUR 0.735, which includes a 33% premium over the fair value determined.
2. Authority to the Company's Manager
Another aspect of the draft proposal is to:
Authorize the Manager of the Company to execute necessary actions post-approval by shareholders for delisting and assist with the submission of required documents.
Conclusion and Contact Information
As the delisting proposal progresses, it indicates a turning point for AB PST Group and its shareholders. The resolutions put forth are set to shape future operations and shareholder return strategies.
For further details concerning these proposals or any inquiries:
Tomas Stukas
Managing Director of AB PST Group
Tel.: +370 618 21360
Frequently Asked Questions
1. What is the purpose of the general meeting?
The meeting aims to discuss the delisting of the Company's shares from the AB Nasdaq Vilnius trading platform.
2. When is the shareholder meeting scheduled?
The meeting is scheduled for June 30, 2025, at 10:00 a.m.
3. Who proposed the resolutions for the meeting?
The resolutions have been proposed by the shareholder AB 'HISK'.
4. What will happen if shares are delisted?
If shares are delisted, they may not be available for trading on regulated markets, which could affect liquidity.
5. How can shareholders participate in this process?
Shareholders can submit their draft resolutions by the specified deadline and vote on the proposals during the meeting.
