Siauliu Bankas - Notification on material event

Completion of the transaction to acquire Bankas Finasta and FMĮ Finasta

Šiauliai, Lithuania, 2015-07-20 07:30 CEST (GLOBE NEWSWIRE) -- 

The Bank on 17 July 2015 acquired 100 percent of the shares of AB Bankas
Finasta and the financial brokerage firm AB FMĮ Finasta (hereafter, “the
Shares”) for the amount of EUR 6.19 million. The price was calculated according
to the formula established in the Share Purchase-Sale Agreement (hereafter,
“the Agreement”) signed on 11 May 2015. 

In settlement for the Shares, as foreseen in the Agreement, the Bank presented
21.35 million new shares with a total nominal value of EUR 6.19 million
(hereafter, “the New Issue”) to AB Invalda INVL for subscription. Settlement
for the New Issue was effected through a Set-Off Agreement which the Bank and
AB Invalda INVL entered into on 17 July 2015, by which the parties established
that their claims arising from the Agreement and from the contract on
subscription of the Bank's shares were satisfied. 

The Board of the Bank, in keeping with the resolution of the General Meeting of
Shareholders held on 22 June 2015 regarding amendments of the Bank's Charter
related to the authorized capital increase, amended Article 3.5 of the Charter
of the Bank, specifying in it the authorized capital amount that reflects the
number of actually subscribed and paid shares in the New Issue. After the
increase (after registration of the amended Charter), the Bank's authorized
capital will be EUR 91,226,381.99, it will be comprised of 314,573,731 ordinary
registered share with a par value of EUR 0.29 each. 

The New Issue will be registered and AB Invalda INVL will obtain ownership
rights to the shares of the New Issue only after permission is received from
the Bank of Lithuania, as the Bank's supervisory institution, for the amendment
of the Bank's Charter related to the authorized capital increase. 

Chief Executive Officer Vytautas Sinius




         Additional information about this material event is available from the
Bank's Chief Executive Officer, Vytautas Sinius, Tel. +370 (5) 236 2209.