City Service AB shares on the Main List of the Vilnius Stock Exchange

08.06.2007 VLN

From today (June 8, 2007) shares of City Service AB are admitted to the Main List of the Vilnius Stock Exchange (VSE). Such a decision was made at the VSE Management Board meeting on June 7, 2007, considering that City Service AB had fulfilled the conditions set by the VSE Management Board.

“We are delighted with the successful results of the public share offering, which enabled us to reach our goal and to be listed on the Vilnius Stock Exchange. We believe that this decision will also serve as an impulse for the whole market. Speaking for ourselves, we will aim to fulfill our investors’ expectations and will consistently work to increase the value of the company by carrying out our plans, “ – said Žilvinas Lapinskas, General Manager of City Service AB.

“The new entrant to the Vilnius Stock Exchange has been long awaited by all market participants. We are delighted to welcome a new company and we are truly pleased that the management of City Service AB has a strategy on the capital markets. High free float and broad shareholder base should boost active trading with company’s shares on the market,- said Arminta Saladziene, Chairman of the Management Board of the Vilnius Stock Exchange. – Extremely high interest of the investors shows that there is a clear demand for attractive public offerings of the Lithuanian companies. We hope that this successful example of City Service AB will encourage other companies to consider listing on the stock exchange as a good opportunity to attract new capital.”

The Vilnius Stock Exchange opens a dedicated web page containing real-time trading information of City Service AB shares. The real-time information is available through the Baltic Market Data website http://www.omxgroup.com/nordicexchange/balticmarket/market until June 15, 2007.

During the subscription period between 21.05.2007 – 01.06.2007 altogether 4 781 428 shares of City Service AB were subscribed. This is 25 percent of shares from the increased authorized capital of the company. The main coordinator of the offer was Hansabankas AB.
In respect of the offer made to institutional investors the approximate rate of oversubscription was 8.12 times. Approximately 75% of all the company’s shares (of the offered emission) were distributed to institutional investors and 25% – to retail investors. The final offering price per one share is LTL 12.95 (EUR 3.75). Investors from Baltic and Nordic countries, Germany, Austria and the UK participated in this public offering.

At present the City Service Corporate Group comprises 13 companies established in Lithuania, Russia, Latvia and the Ukraine. In 2006, the area of buildings maintained by the Corporate Group more than doubled and totals 8.6 million m2 area of buildings. The largest growth was observed in St. Petersburg (Russia), where after the acquisition of three companies the area of buildings maintained by the City Service at present amounts to 2.8 million m2. It is planned that by end-2007 the area of buildings maintained by the companies of this Group will reach 10.7 million m2.

Last year the net profit of City Service AB increased by 66.1% to LTL 7.5 million. Total income of the Group in 2006 amounted to LTL 113.6 million. The profit of the City Service Group planned for this year will reach LTL 13.1 million.


More information about the company is available on the web page: www.cityservice.lt

For more information, please contact:
Gintare Blazyte, Communication Manager
Vilnius Stock Exchange +370 5 272 34 58