Snaige AB - Notification on material event

Implemented the agreement of 11 November, 2011 purchase-sale of shares of the Company

Alytus, Lithuania, 2011-12-21 14:52 CET (GLOBE NEWSWIRE) -- Snaigė AB, legal
entity code: 249664610, office address: Pramonės str. 6, Alytus (hereinafter -
the Company). 

On 21 December 2011 the second transfer of the Company's shares pursuant to the
Company's shares purchase - sale agreement, dated 11 November 2011 (hereinafter
- the Agreement), was performed: Russian company “Polair”, indirectly acting
through UAB “VAIDANA” (hereinafter - the Buyer) has acquired from KJK Fund
SICAV-SIF, Amber Trust SCA SICAF-SIF, Firebird Republics Fund, Ltd and Firebird
Avrora Fund, Ltd remaining 6,114,453 units of shares of the Company (i. e.
15.43% of all the shares of the Company) pursuant to the Agreement paying EUR
0.53970482 for a single share. 

At the moment the Purchaser holds 23,716,668 ordinary registered shares of the
Company, constituting 59.86 percent of all shares and votes carried by them at
the general meeting of shareholders of the Company. 


         Managing Director
         Gediminas Čeika
         +370 315 56206