The Board of Šiaulių bankas offers to issue a new share issue


The Board of Šiaulių bankas has decided to convene the Extraordinary General Meeting of Shareholders to be held on 18 November 2010 regarding the issue of the second share issue of the Bank with the additional contributions, by implementing the increase of the Bank’s authorized capital in two stages foreseen in the beginning of this year.

The share issue of 24.5 million that was issued by the resolution of the General Meeting of Shareholders as of 18 May was successfully distributed. Seeking to distribute the aforementioned issue within a short time, the European Bank for Reconstruction and Development and seven private investors acquired it with the approval of the Meeting.

“By convening the Shareholders’ Meeting we perform our obligation to provide the possibility to the shareholders who did not participate during the first share issue to restore their share of the Bank’s authorized capital and voting rights. The increase of the authorized capital will provide the possibility for the customers to access to finance on the bigger volume projects”, Algirdas Butkus, the Chairman of the Board of Šiaulių bankas, stated.

The Board of Šiaulių bankas in its draft resolution offers to increase the authorized capital of the Bank by LTL 30 million during the second share issue. As intended, the price of Šiaulių bankas’ shares of the second issue will be the same as during the first share issue: shares will be distributed at a price of LTL 1.04.