PROPOSAL TO ACQUIRE SHARES EXERCISING THE RIGHT OF PREEMPTION
Report on the Stock Event
1. Šiaulių bankas AB, the enterprise code 112025254, the address Tilžės st. 149, Šiauliai.
2. This report is submitted to the Securities Commission of the Republic of Lithuania, to Vilnius Stick Exchange AB, to the daily newspapers “Lietuvos rytas” and “Šiaulių kraštas” also to the Manager of Register of Legal Entities.
3. On 28 September 2006 Securities Commission approved the share issue prospectus of Šiaulių Bankas AB. New shares were issued by the resolution of the General Shareholder Meeting held on 4 July 2006.
The share issue is issued only for those shareholders that owned the Bank’s shares as for 4 July 2006. The dissemination of shares starts on 5 October 2006. 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 +370 841 595669, 595652, 595654, 595608.
New share dissemination is going to consist of two following stages:
Stage I - from 5 October to 27 October 2006 (17 business days) share dissemination to persons who exercise the pre-emptive right. The shares subscribed at this stage have to be paid until the last day of this stage - 27 October 2006.
Stage II - 30 October 2006 to 22 November 2006 - the dissemination of the rest of the shares to persons who owned bank shares on 4 July 2006 (Meeting Day) according to their applications in proportion to the number of shares owned on the Meeting day. Actions taken during this stage:
1) from 30 October 2006 to 7 November 2006 - admission of applications;
2) from 8 November 2006 to 21 November 2006 - allocation of shares to the applicants, signing of Share Subscription Agreements and payment of the subscribed shares;
3) 22 November 2006 - sales of unsubscribed or subscribed but not paid in time shares to the Bank’s Board Members.
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 http://www.baltic.omxgroup.com/market/?pg=news&lang=en. and on Bank‘s site www.sb.lt .
The Prospectus is available for review since 5 October 2006 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. The report is not confidential.
5. Pranas Gedgaudas is authorized by the issuer to provide additional information on the stock event and is available on tel.: +370 41 595653.
3 October 2006