Vilnius Stock Exchange to list Snaige AB convertible bonds issue

14.04.2008 VLN

Baltic Market, April 14, 2008 – From April 22, 2008, a convertible bonds issue of Snaige AB will be admitted to the Vilnius Stock Exchange (VSE) Bond List. Such a decision was made at the VSE Management Board meeting on April 14, 2008.

A 367-day issue of 200,000 convertible bonds at LTL 100 (EUR 28.96) face value of Snaige AB is admitted to the VSE Bond List. The total nominal value of the issue amounts to LTL 20,000,000 (EUR 5,792,400). The bonds will be redeemed on April 6, 2009. The bonds give a right to annual interest of 14 %. Bond holders will have a right to convert the bonds to ordinary shares of AB “Snaigė” at the date of the redemption (conversion rate is 1:18, i.e.one bond is converted into 18 shares).

On December 31, 2007, the authorized capital of Snaige AB amounted to LTL 23,827 thousand (EUR 6,900 thousand). As of April 7, 2008, the largest shareholders (holding more than 5% of the company’s vote) are the following: the clients of the Hansapank – 47.39%, Survesta UAB – 20.71%, the clients of the Skandinaviska Enskilda – 10.65 %.