Snaige AB - Notification on material event

Notification about the intention to submit a tender offer

Notification on the adjustment of the notification about the intention to
submit a 
non-competitive mandatory tender offer

Alytus, Lithuania, 2011-03-08 07:30 CET (GLOBE NEWSWIRE) -- On 7 March 2011
Snaigė AB received a notification that the notification about the intention to
submit a non-competitive mandatory tender offer to buy up the remaining shares
of Snaigė AB (hereinafter referred to as the “Notification”) on 8 February 2011
provided by KJK Fund SICAV-SIF, Luxembourg company Société d'investissement à
capital variable - fonds d'investissement spécialisé, with its registered
address at 412F, route d'Esch L-1030, Luxembourg, registration No. B 86 729,
Firebird Republics Fund, Ltd., a company established according to laws of the
Cayman Islands, with its registered address at c/o Trident Trust Company
(Cayman) Ltd., One Capital Place, P.O. Box 847 Grand Cayman, Cayman Islands,
and Firebird Avrora Fund, Ltd., a company established according to laws of the
Cayman Islands, with its registered address at c/o Trident Trust Company
(Cayman) Ltd., One Capital Place, P.O. Box 847 Grand Cayman, Cayman Islands
(hereinafter jointly referred to as the “Offer Submitters”) was prepared
according to the incorrect data on the shares of Snaigė AB, held by the person,
acting in concert with the Offer Submitters, Amber Trust S.C.A., Luxembourg
Société d'Investissement à Capital Fixe Qualifying as fonds d'Investissement
specialise, with its registered address at 412F, route d'Esch L-1030
Luxembourg, registration No. B 87 145, and voting rights, granted thereof,
which were provided due to the technical mistake. 

Due to the indicated reason in the Notification it was incorrectly indicated
the number of shares of the company, collectively held by the group members as
well as the number of shares intended to be bought up during the mandatory
tender offer, i. e. in the Notification it was indicated that the number of
shares, intended to be bought up during the mandatory tender offer is
19,218,720, constituting 62.53% of shares and votes carried by them at the
general meeting of shareholders of Snaigė AB, as well as that the Offer
Submitters and Amber Trust S.C.A. collectively hold 11,516,995 shares of Snaigė
AB, constituting 37.47% of shares and votes carried by them at the general
meeting of shareholders of the company. 

The correct respective numbers are the following: 18,859,920, i. e. 61.36% (the
number of the remaining shares of Snaigė AB and votes carried by them intended
to be bought up during the mandatory tender offer) and 11,875,795, i.e. 38,64%
(the number of shares of Snaigė AB and votes carried by them, collectively held
by the Offer Submitters and Amber Trust S.C.A.). 


         Managing Director
         Gediminas Čeika
         +370 315 56206