Invalda AB - Notification on material event

Regarding the conversion of 32.44 million litas (€ 9.4 million) Invalda AB bonds

Vilnius, Lithuania, 2012-03-29 08:32 CEST (GLOBE NEWSWIRE) -- The application
from the bondholders to convert 32.44 million litas (€ 9.4 million) par value
bonds (par value of one bond is 100 litas (€ 28.96)) into Invalda AB shares was
received on March 28th, 2012. 25 million litas (€ 7.2 million) bonds with ISIN
code LT0000401812 and 7.44 million litas (€ 2.2 million) bonds with ISIN code
LT0000410193 will be converted into 5.898.182 (five million eight hundred
ninety eight thousand one hundred eighty two) shares of 1 litas (€ 0.29) par
value. 

Following the decisions of Invalda AB General Shareholders' Meetings held on
November 14th, 2008 and January 30th, 2010, stating that the day of the
above-mentioned request placement is considered to be the end of bonds issue
term, Invalda AB is obliged to convert all bonds owned by the investors to its
shares no later than 10 business days from the day when written request was
received. 

Main facts about shares which will be issued via conversion of 250.000 and
74.400 units of convertible bonds: 
- 250.000 convertible bonds will be converted into 4.545.455 shares;
- 74.400 convertible bonds will be converted into 1.352.727 shares;
- class - ordinary registered shares;
- par value - 1 (one) litas (€ 0.29);
- granted rights - all property and non-property rights stated in the Articles
of Association of Invalda AB. Shares issued after the conversion of the bonds
will be merged with the current share issue and from that moment they could be
traded on the NASDAQ OMX Vilnius stock exchange. 

After the conversion, Invalda AB share capital will be increased by 5.898.182
litas (€ 1.708.231,60) up to 57.557.940 litas (€ 16.669.931,60) and divided
into 57.557.940 shares of 1 litas (€ 0.29) par value. 

The conversion price of new shares is 5.5 litas (€1.59) per share.

The bondholders will have the obligation to pay back 4.787.998 litas (€
1.386.700,10) interest paid according to the conditions of the bond issue. The
accrued interest as of March 28th, 2012 in the amount of 2.375.675 litas (€
688.043) will not be payable to the bondholders. 

Invalda AB has issued convertible 25 million litas (€ 7.2 million)  par value
bonds on December 1st, 2008. These bonds were acquired by RB Finansai UAB.
Another convertible 7.44 million litas (€ 2.2 million) par value bond issue was
issued on January 30th, 2010 which was sold to Dim Investment UAB. The annual
interest rate for both bond issues was 9.9 percent, maturity date - July 2nd,
2012 (in case the bonds are not converted at earlier date). 

After the conversion RB Finansai UAB will get 7.9 percent of Invalda AB shares
and Dim Investment UAB - 2.35 percent. 

Invalda AB will be completely debt free after the completion of the bond
conversion. 


         Dalius Kaziunas
         President
         Tel. +370 5273 3278
         Email: dalius@invalda.lt