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2011-08-19 11:36:34 CEST 2011-08-19 11:37:33 CEST REGULATED INFORMATION Sanitas AB - Notification on material eventTransaction for the acquisition of the shares of AB Sanitas completed, the members of the Management Board and the Audit Committee resignedKaunas, Lithuania, 2011-08-19 11:36 CEST (GLOBE NEWSWIRE) -- Reference is made to the public release of 24th May 2011 announcing that Valeant Pharmaceuticals International, Inc. (“Valeant”) intends to acquire the entire 87.2% shareholding from the funds advised by Citi Venture Capital International (“CVCI”, through the legal entities Citigroup Venture Capital International Jersey Limited and Baltic Pharma Limited), AB Invalda (“Invalda”), Amber Trust II S.C.A. (“Amber”) and certain other persons and, following such acquisition, to launch a mandatory takeover offer to acquire the remaining shares in AB Sanitas from the minority shareholders (more information is available at: http://www.sanitasgroup.com/index.php/news/news/the-signature-date-of-the-share- sale-and-purchase-agreement-has-been-corrected/11468). As announced on 11th July 2011, 22nd July 2011 and 17th August 2011, Valeant has received unconditional merger clearance for the intended acquisition of AB Sanitas in the jurisdictions where it was required, i.e. Ukraine, Lithuania and Poland (more information is available at: http://www.sanitasgroup.com/announcements/clearance-received-from-the-antimonopo ly-committee-of-ukraine-/11529.; http://www.sanitasgroup.com/announcements/clearance-received-from-the-competitio n-council-of-the-republic-of-lithuania/11539. ; http://www.sanitasgroup.com/announcements/clearance-received-from-the-polish-off ice-or-competition-and-consumer-protection/11569). As all the conditions precedent provided for in the Share Sale and Purchase Agreement of 23 May 2011 were fulfilled, on 19th August 2011, the parties therefore completed the transaction, whereby Valeant acquired 87.2% shares of AB Sanitas at a price for EUR 10.06 per one ordinary registered shares. On 19th August 2011, AB Sanitas' members of the Management Board, Roy Ashwin, Darius Šulnis, Martynas Česnavičius, Martin Oxley and Tomas Nausėda, and the members of the Audit Committee, Edgaras Kateiva, Kustaa Aima and Raimondas Rajeckas, resigned. As mentioned before, after completion Valeant will launch a mandatory tender offer to buy up the remaining shares of AB Sanitas from the minority shareholders. This announcement is also available on AB Sanitas' website: www.sanitasgroup.com. A person authorised to provide additional information: Mr. Saulius Jurgelėnas, Chief Executive Officer of AB Sanitas, phone number +370 686 67779. Lawyer Dovile Morkyte +370 615 15163 |
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