Circular for the mandatory takeover bid to buy up the shares of AB Snaige has been approved

JSC Snaige informs that on 30 January 2024 the Financial Market Supervisory Committee of the Bank of Lithuania has approved the circular of the non-competitive mandatory takeover bid submitted by EDS INVEST 3 UAB, intended for the buy up of the remaining ordinary registered shares of AB Snaige.

In the circular of the mandatory takeover bid submitted to the Bank of Lithuania, the price for one share of AB Snaige to be paid by the bidder UAB EDS INVEST 3 is EUR 0.129. This price consists of the weighted average of the market price of the shares for the 6 months prior to the date of acquisition of the shares giving rise to the mandatory takeover bid (i.e. from 27 March 2023 to 27 September 2023, inclusive).

The start date of the implementation of the mandatory takeover bid is the fourth working day following the approval of the Circular, i.e. 5 February 2024. The duration of the implementation of the mandatory takeover bid shall be 14 (fourteen) calendar days.

The buying of shares will be carried out through the Official Bidding Market of AB Nasdaq Vilnius, with UAB FMI Orion Securities as intermediary. Shareholders wishing to respond to mandatory takeover bid and sell their shares may contact any financial brokerage firm or credit institution operating in Lithuania and submit an order to sell their shares in accordance with the procedure agreed with the relevant financial brokerage firm or credit institution.

General manager
Darius Varnas
Tel. nr.  +370 315 56200

Attachment

• Summary of the circular EN