Šiaulių bankas

Date: 18.05.2010 - 16:09 (GMT+3) , Exchange: VLN , Company: Šiaulių bankas
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SAB: Decisions of the Extraordinary General Meeting of Shareholders

Siauliu Bankas AB            Notification on material event           18.05.2010

Decisions of the Extraordinary General Meeting of Shareholders

On the Extraordinary General Meeting of Shareholders held on 18 May 2010 where  
made following decisions on agenda items:                                       

1. Regarding the increase of the authorized capital of the bank by shareholders'
additional contributions.                                                       
To increase the authorized capital of the bank by the amount of LTL 24,500,000  
with additional contributions of shareholders, issuing 24,500,000 ordinary      
registered shares with the par value LTL 1 each. To determine the issue price of
the newly issued shares at LTL 1.04 per share.                                  

2. Regarding the withdrawal of the shareholders' right of pre-emption to acquire
new shares.                                                                     
In order to carry out the procedures of increasing the authorized capital of the
bank within the shortest term possible, to withdraw for all the shareholders the
pre-emption right to acquire shares of the new issue in proportion to the total 
par value of the shares, held by them. To grant the right to acquire shares of  
the new issue to the following shareholders of the bank: the European Bank for  
Reconstruction and Development  (international financial institution, address of
the head office One Exchange Square, London EC2A 2JN, United Kingdom) -         
17,000,000 shares, Mr. Algirdas Butkus - 2,500,000 shares, Mr. Gintaras Kateiva 
- 2,150,000 shares, Mr. Arvydas Salda - 1,250,000 shares, Mr. Sigitas Baguckas -
500,000 shares, Mr. Kastytis Jonas Vyšniauskas - 500,000 shares, Mr. Vigintas   
Butkus - 350,000 shares, Mr. Vytautas Junevičius - 250,000 shares.              

3. Regarding the amendments of the Bank Charter.                                
1) To amend Article 3.5 of the Charter of the bank as follows: 
“3.5. The authorized capital of the bank shall be equal to the total amount of  
par values of all registered shares of the bank. The authorized capital of the  
bank shall be equal to LTL 204,857,533 (two hundred and four million eight      
hundred and fifty seven thousand five hundred and thirty three litas). It shall 
be divided into 204,857,533 (two hundred and four million eight hundred and     
fifty seven thousand five hundred and thirty three) ordinary registered shares. 
The par value of one share shall be LTL 1 (one).”                               
2) To authorize the Chairman of the Board of the bank Mr. Algirdas Butkus to
sign the amended Charter. 

4. Regarding the next increase of the authorized capital by additional          
contributions with empower of preemptive right to shareholders to acquire new   
shares.                                                                         
To assign the Board of the bank within the shortest reasonable term after the   
registration of the amended Charter of the bank to convene an Extraordinary     
General Meeting of Shareholders and to initiate consideration of a matter       
thereat of making of a new issue of the bank shares  for increasing the         
authorized capital with additional contributions, providing that these new      
shares would be distributed without withdrawal of the shareholders' pre-emption 
right to acquire share of the new issue in proportion to the total par value of 
the shares held by the shareholders, suggesting that the main shareholders, in  
favour of which the pre-emption right was withdrawn in the first issue, do not  
take part in this new issue, thus achieving the result equivalent to increase of
the authorized capital without withdrawal of the pre-emption right, in two      
stages.                                                                         

Director of the Treasury Department Pranas Gedgaudas, tel.: +370 41 595653