OREANDA-NEWS.  January 12, 2012. The Ministry of Energy of the Republic of Lithuania issued a Draft Resolution to the Government proposing to increase share capital of SC Klaipedos Nafta by LTL 45,49 million.

The Ministry of Energy of LR - the owner of 70 % of the ordinary registered shares of SC Klaipedos Nafta - intends to invest into the shares of the said Company by the property in trust of PE Lithuanian Oil Product Agency – Subacius Oil Products Terminal as an additional contribution provided that SC Klaipedos Nafta will assume an obligation to lease a part of the property to PE Lithuanian Oil Product Agency as necessary for accumulation and management of oil products and state oil reserves in accordance with the requirements of legislative acts for the term of at least 10 years. 

The authorized capital would be increased by additional contributions by issuing new ordinary registered shares with the par value of LTL 1 (one). The issue price of the shares may be determined taking into account the market share price as well as other factors therefore it can be greater than the par value of a share.