New share issue dissemination is started

2005-11-28

 

REPORT ON THE STOCK EVENT

 

PROPOSAL TO ACQUIRE SHARES EXERCISING THE RIGHT OF PRE-EMPTION

 

1. Šiaulių bankas AB, enterprise code 112025254, address: Tilžės st.149, Šiauliai.

 

2. This report is submitted to Lithuanian Securities Commission, Vilnius Stock Exchange, to the daily newspapers “Lietuvos rytas” and “Šiaulių kraštas” and to the manager of Department of Register of Legal Entities.

 

3. On 25th Nov. 2005 Securities Commission approved the share issue prospectus of Šiaulių Bankas AB. New shares were issues by the resolution of the General Shareholders Meeting held on 23rd Sept. 2005.

The dissemination of the above shares starts on 5th Dec. 2005. The dissemination is going to take place at the head office of the Bank (Tilžės st.149, Šiauliai) and at the all territorial branches of the Bank. The addresses of the dissemination places are stated in the share prospectus, they could also be provided by the telephones no. (841) 595669, 595652, 595654, 595608.

New share dissemination is going to consist of two following stages:

Stage I – from 5th Dec.2005 to 19th Dec.2005 (15 days) share dissemination to persons who exercise the pre-emptive right.

from 5th Dec.2005 to 19th Dec.2005 (15 days) share dissemination to persons who exercise the pre-emptive right.

After the first stage three day period from 20th Dec.2005 to 22nd Dec.2005 is provided for payment of the shares subscribed at the end of the first stage.

Stage II - from 23rd Dec. 2005 to 6th Jan. 2006 (15 days) - the dissemination of the rest of the shares to persons who owned bank shares on 23 Sep. 2005 according to their applications in proportion to the number of shares owned on the Meeting day. This stage is going to be divided into four sub-stages:

from 23rd Dec. 2005 to 6th Jan. 2006 (15 days) - the dissemination of the rest of the shares to persons who owned bank shares on 23 Sep. 2005 according to their applications in proportion to the number of shares owned on the Meeting day. This stage is going to be divided into four sub-stages:

1) from 23rd Dec. to 27th Dec. 2005 – admission of applications;

2) from 28th Dec. to 2nd Jan. 2006 – allocation of shares to the applicants and signing of Share Subscription Agreements;

3) from 3rd Jan. 2006 to 5th Jan. 2006 – payment of the subscribed shares;

4) 6th Jan. 2006 – subscription and payment of not subscribed or subscribed but unpaid shares.

The Bank is going to inform about the number of shares left for the second stage and about the application submission terms, subscription and payment of shares on Vilnius Stock Exchange site www.omxgroup.com/vilnius, where shares of the Bank are quoted on the current list.

The Prospectus is available for review at the head office of the Bank and in all the territorial branches of the bank, it also can be found on the Bank’s site www.sb.lt.

 

4. Report is not confidential.

 

5. Pranas Gedgaudas is authorized to provide additional information about an essential event on behalf of the issuer. tel. (8-41) 595653.

 

Chairman of the Board
Algirdas Butkus

 

28 November 2005