Sanitas AB - Notification on material event

Transaction for the acquisition of the shares of AB Sanitas completed, the members of the Management Board and the Audit Committee resigned

Kaunas, 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