Sanitas AB - Notification on material event

Received notification regarding the mandatory sale of shares (squeeze-out)

Kaunas, Lithuania, 2011-09-23 07:06 CEST (GLOBE NEWSWIRE) -- On 22 September
2011 SANITAS AB (hereinafter - “Company”) received a notification regarding the
mandatory sale of shares (squeeze-out) from its shareholder Valeant
Pharmaceuticals International, Inc. 
Valeant Pharmaceuticals International, Inc., which owns by ownership title
98,35% (i.e. more than 95%) of shares of SANITAS AB granting a voting right and
owning 98,35% of votes in the general meeting of shareholders of the Company
(according to data as of 20 September 2011), following Article 37 of the Law on
Securities of the Republic of Lithuania, as well as a price per one ordinary
share of the Company equal to 10,06 EUR which was approved by the Securities
Commission of the Republic of Lithuania for implementing mandatory tender
offer, requested that minority shareholders sell the ordinary shares of the
Company owned by them. 
The ordinary registered shares of the Company (ISIN code LT0000106171) are
admitted to the Main List of AB NASDAQ OMX Vilnius. The Company has outstanding
31,105,920 (thirty one million one hundred five thousand nine hundred twenty)
ordinary registered shares LTL 1 (one litas) par value each, with the total par
value of LTL 31,105,920 (thirty one million one hundred five thousand nine
hundred twenty litas). 
It is stated in the notification of Valeant Pharmaceuticals International, Inc.
that on the date of signature of notification the buying shareholder, Valeant
Pharmaceuticals International, Inc., owns 30 593 656 ordinary registered shares
of the Company, which confer 98,35% of votes in the general meeting of
shareholders of the Company (according to data as of 20 September 2011). 
For one ordinary registered share of the Company Valeant Pharmaceuticals
International, Inc. offers 10,06 EUR. The Price for shares of the Company is
established in accordance with the Article 37 part 4 clause 1 of the Law on
Securities of the Republic of Lithuania - the price is the same which was paid
during the mandatory tender offer, implementing which Valeant Pharmaceuticals
International, Inc. acquired more than 95% of shares of the Company. 
Valeant Pharmaceuticals International, Inc. shall place an order through AB
bankas FINASTA to the market to buy the remaining shares of the Company, which
shall be valid for 90 (ninety) days after the public notification about the
mandatory sell of shares (squeeze-out) (publishing in the daily newspaper
indicated in the Articles of Association of the Company). 
Settlement for the shares shall be made in cash - T+3 (in the third day after
the execution of the transaction). The shares can be sold at any day during the
announced mandatory sale of shares. 
Until 22 December 2011 all the shareholders are obliged to sell their shares of
the Company to Valeant Pharmaceuticals International, Inc. or to dispute the
indicated price of shares in the manner, stipulated in the Article 37 part 14
of the Law on Securities of the Republic of Lithuania. 
If any of the shareholders fail to sell their shares, Valeant Pharmaceuticals
International, Inc. shall request that the shares of the Company which were not
sold would be recorder to the securities account of Valeant Pharmaceuticals
International, Inc., i.e. the records regarding the transfer of ownership title
to the shares to the shareholder buying the shares, Valeant Pharmaceuticals
International, Inc., are made Settlement for such shares shall be performed
after the ruling of the court comes into effect from the cash which shall be
deposited at the special account. Each shareholder which shall not sell its
shares shall be notified about this separately. 
Any shareholder of the Company may find the documents (that were the basis of
setting the price for the shares) in the Company during the working hours of
the Company. 

A person authorized to provide additional information: Mr. Saulius Jurgelenas,
Chief Executive Officer of Sanitas, AB phone number +370 686 67779. 


         Lawyer
         Dovilė Morkytė
         +370 615 15163