OREANDA-NEWS. On 30 December 2014, AB Lietuvos Dujos (hereinafter referred to as the ‘Company’) received the decision of the Director of the Supervision Service of the Bank of Lithuania made on 30 December 2014 with regard to Case No. 241-181 on violation of law by AB Lietuvos Dujos.

The Company is obliged to announce that by means of the aforementioned decision (of the Director of the Supervision Service of the Bank of Lithuania) AB Lietuvos Dujos has been warned of the violation of Part 5 of Article 21 of the Law on Securities of the Republic of Lithuania. Following the assessment of the recoverable amounts of the non-current tangible assets attributed to the distribution activity as at 30 June 2014, AB Lietuvos Dujos recorded the impairment of the non-current tangible assets attributed to the distribution activity of LTL 196 million in its Income statement for the six months period ended 30 June 2014. No tests on the impairment of non-current tangible assets with regard to individual activities (cash generating units) were carried out in previous periods, therefore, it was not assessed, what portion of these losses should be attributed to the previous periods. Given that in 2012 and 2013 the recoverable amounts of non-current tangible assets owned by AB Lietuvos Dujos and the Group indicating any signs of impairment were not assessed with regard to individual activities (cash generating units), the financial statements of AB Lietuvos Dujos for the year 2013 do not comply with the provisions of Article 30 of IAS 16 and Article 66 of IAS 36.

Please be informed that in the annual financial statements of the Company for the year ended 31 December 2014 the impairment of non-current tangible assets will be presented retrospectively. Annual financial statements of 2014 will be publicly announced no later than 30 April 2015.