AB Klaipėdos Nafta has selected TARK GRUNTE SUTKIENE as its legal counsels and successfully distributed its newly issued shares offered to its existing shareholders, which were admitted to trading on the Lithuanian regulated market at the beginning of July 2012.
TARK GRUNTE SUTKIENE partner Vidmantas Drizga, associate partner Agnius Pilipavičius and associate Mantas Gofmanas counselled the company on legal matters in this process. The lawyers structured the transaction, worked out the prospectus on offering the shares of the company and admitting them to the Lithuanian regulated market. They also represented the company before the Bank of Lithuania, AB NASDAQ OMX Vilnius and the Central Securities Depository of Lithuania and carried out all other required actions related to the offering and the admission of the shares to the regulated market.
AB Klaipėdos Nafta is among the most advanced oil terminals in Europe. The main purpose of the terminal is to transfer exported oil products from railroad tank-cars to tankers, to provide Lithuania with imported oil and oil products, which are delivered to the Port of Klaipėda by tankers. The construction of the LNG terminal is currently in progress in Klaipėda and it is a strategic project of Lithuania.