Snaige AB - Notification on material event

Convocation of the General Meeting of Shareholders

Alytus, Lithuania, 2011-04-08 15:59 CEST (GLOBE NEWSWIRE) -- On 29 April 2011
the General Meeting of Shareholders of Snaigė AB, the address of head office
Pramonės str. 6, Alytus, the company code 249664610 (further Company) is
convened. 

 The place of the meeting - main meeting hall of the Company, at the address
Pramonės str. 6, Alytus, Lithuania. 

 The Meeting starts - at 10 a.m. (registration starts at 9:45 a.m.).

 The Meeting's accounting day - 21 April 2011 (the persons who are shareholders
of the Company at the end of accounting day of the General Meeting of
Shareholders or authorized persons by them, or the persons with whom
shareholders concluded the agreements on the disposal of voting right, shall
have the right to attend and vote at the General Meeting of Shareholders). 

 The rights accounting day - 13 May 2011 (the shareholders will use property
rights arising from the resolutions accepted during the General Meeting of
Shareholders on a ratio basis of number of shares at the end of the rights
accounting day). 

 The Board of directors of the Company initiates and convenes the meeting.

 Agenda of the Meeting:

  -- 1 issue of agenda: Annual report of “Snaigė” AB on the company's activity
     for 2010;
  -- 2 issue of agenda: Auditor's conclusion on the company's financial
     statements for 2010;
  -- 3 issue of agenda: Approval of the set of financial statements of the
     company for 2010;
  -- 4 issue of agenda: Approval of distribution of profit (loss) of “Snaigė”
     AB;
  -- 5 issue of agenda: Increase of members of the Board to 6 members.
  -- 6 issue of agenda: Election of Board members till the end of term of office
     of the Board.
  -- 7 issue of agenda: Election of members of Audit Committee till the end of
     term of office of the Board.
  -- 8 issue of agenda: Election of the audit firm for auditing purposes of
     financial statements and establishment of terms regarding the payment for
     audit services.
  -- 9 issue of agenda: Issuing of convertible bonds.
  -- 10 issue of agenda: Withdrawal of the shareholders' right of pre-emption to
     acquire convertible bonds.
  -- 11 issue of agenda: Increase of the authorized capital and amendment of the
     Articles of Association.
  -- 12 issue of agenda: Authorizations

 The Company shall not provide the possibility to participate and vote in the
Meeting through electronic communication channels. 

 Draft resolutions on agenda issues, documents be submitted to the General
Meeting of Shareholders and other information related with the exercising of
the shareholders' rights are available on the website of the Company
www.snaige.lt on menu item “For investors”. This information will be also
available for the shareholders at the head office of the Company (Pramonės
street 6, Alytus) on business days from 9:00 am. till 16:00 pm. (on Fridays
till 14:00), tel. +370 315 56206. 

 Shareholders that grant at least 1/20 of all votes shall have the right of
proposing to supplement the agenda of the Meeting by providing the Meeting
draft resolution on each additionally proposed issue or in case no resolution
is required - the explanation. The proposals to supplement the agenda shall be
submitted in writing or by e-mail. The proposals shall be presented in writing
to the Company on business days or by sending it by registered mail at the
address Snaigė AB, Pramonės street 6, LT-62175 Alytus, Lithuania. The proposals
submitted via the e-mail shall be sent on bozena.skorobogataja@snaige.lt. The
proposals to supplement the agenda with the additional issues shall be
submitted till the 15 April 2011, 16:00 pm. In case the agenda of the Meeting
is supplemented the Company will report on it no later than 10 days before the
Meeting in the same ways as on convening of the Meeting. 

 Shareholders holding shares that grant at least 1/20 of all votes shall have
the right of proposing new draft resolutions on the issues already included or
to be included in the agenda of the Meeting. The proposals shall be submitted
in writing or by e-mail. The proposals shall be presented in writing to the
Company on business days till 27 April 2011, 14:00 or by sending it by
registered mail at the address Snaigė AB, Pramonės street 6, LT-62175 Alytus,
Lithuania. During the Meeting the proposals shall be submitted to the Chairman
of the Meeting after he announces the Meeting agenda and no later than the
Meeting starts working on the issues of agenda. The proposals submitted via the
electronic mail shall be sent on bozena.skorobogataja@snaige.lt. The proposals
submitted on this e-mail till the 27 April 2011, 14:00 will be discussed during
the Meeting. 

 The shareholders shall have the right to present questions related to the
General Meeting of Shareholders' agenda issues to the Company in advance in
writing. The shareholders shall present the questions not later than 3 business
days before the Meeting via the electronic mail on
bozena.skorobogataja@snaige.lt. The Company undertakes to respond to the
submitted questions via the electronic mail till the Meeting day, except the
questions related to the Company's commercial secret and confidential
information. 

 During the registration to attend the Meeting the shareholders or the persons
authorized by them shall submit a document which is a proof of his identity.
The shareholders' authorized persons shall submit the power of attorney
confirmed by the established order. The power of attorney issued by the natural
person shall be notarized. A power of attorney issued in a foreign state must
be translated into Lithuanian and legalized in the manner prescribed by law.
Representative can be authorized by more than one shareholder and shall have a
right to vote differently under the orders of each shareholder. The shareholder
holding shares of the Bank, where the shares have been acquired on his own
behalf, but for the benefit of other persons, must disclose before voting at
the General Meeting of Shareholders to the Company the identity of the final
customer, the number of shares that are put to the vote and the content of the
voting instructions submitted to him or any other explanation regarding the
participation agreed upon with the customer and voting at the General Meeting
of Shareholders. 

 Shareholder shall also have the right to authorize through electronic
communication channels another person (natural or legal) to participate and
vote in the Meeting on shareholder's behalf. Such authorization shall not be
confirmed by the notary officer. The power of attorney issued through
electronic communication channels must be confirmed by the shareholder with a
safe electronic signature developed by safe signature equipment and approved by
a qualified certificate effective in the Republic of Lithuania. The shareholder
shall inform the Company on the power of attorney issued through electronic
communication channels by e-mail bozena.skorobogataja@snaige.lt no later than
the last business day before the meeting at 14:00 p.m. The power of attorney
and notification shall be issued in writing. The power of attorney and
notification to the Company shall be signed with the Electronic Signature but
not the letters sent via the e-mail. By submitting the notification to the
Company the shareholder shall include the Internet address from which it would
be possible to download free of charge software to verify an Electronic
Signature of the shareholder. 

 Each shareholder or representative thereof shall have the right to cast
his/her vote in advance in writing by filling in a general ballot paper. The
general ballot paper form is on the Company's website www.snaige.lt on menu
item “For Investors”. Upon the written shareholder‘s request, the Company no
later than 10 days before the Meeting shall send a general ballot paper by
registered mail or hand it in person against signature. The general ballot
paper filled shall be signed by the shareholder or his/her representative. In
case the ballot paper is signed by the shareholder's authorized representative,
such person along with the filled ballot paper shall submit the document to
confirm the voting right. The ballot paper filled and the document confirming
the voting right (if required) shall be submitted in a written form to the
Company by registered mail at the address Snaigė AB, Pramonės street 6,
LT-62175, Alytus, Lithuania or by submitting it to the Company. Validated will
be dully filled-in ballot papers, received until the meeting. 

 The following information and documents are available on the website of the
Company www.snaige.lt on menu item “For Investors”: 

- report on the convening of the Meeting;
- the total number of the Company's shares and the number of shares with voting
rights on the convening day of the Meeting; 
- draft resolutions on each agenda issue and other documents to be submitted to
the Meeting; 
- general ballot paper form.

 Additional information on the stock event provides analyst Božena
Skorobogataja and is available on tel.: +3705 2113589. 

 Draft resolutions of the repeat General Meeting of Shareholders is attached.


         Managing director
         Gediminas Čeika
         +370 315 56206

Attachments:

Draft resolution.pdf