Snaige AB - Notification on material event

Amended Articles of Association with increased authorized capital has been registered

Alytus,Lithuania, 2011-05-13 10:56 CEST (GLOBE NEWSWIRE) -- Snaigė AB, company
code 249664610, address of head office Pramonės str. 6, Alytus. 

 On 12 May 2011 the amended Articles of Association of Snaigė AB with the
increased up to LTL 39,622,395 (EUR 11,475,439) authorized capital was
registered in the Register of Legal Entities. The authorized capital of the
company was increased upon the requirement of the part of bondholders having
converted shares to 23,386 units of convertible bonds which must be redeemed on
11 April 2011. The issue of 8,886,680 ordinary registered shares of LTL 1
nominal value each was issued for the increase of the authorized capital. 


         Managing Director
         Gediminas Čeika
         +370 315 56206

Attachments:

ARTICLES OF ASSOCIATION_2011.pdf