Today,  on  the 10th of February, the repeatedly convened extraordinary

general  meeting  of PJSC Grindeks shareholders was opened. The meeting

agenda  included  an  issue  regarding increase of the stock capital of

PJSC Grindeks .

Valdis  Jakobsons, the Chairman of the Board, presented a report on the

above-mentioned  issue.  He  informed  the shareholders on the positive

decision  of  the  government  regarding increase of the Grindeks stock

capital,   replacing   the   liabilities  of  the  company,  i.e.,  the

International  Bank of Reconstruction and Development loan to be repaid

to the state budget, with the company's shares.

To  complete  the  process  in  accordance  with the legal procedure, a

positive   decision   is   needed  from  the  Council  of  the  Latvian

Privatisation  Agency.  However,  due to changes in the government, the

institution  has  postponed  the  review of the issue for an indefinite

time.

Consequently,  the  shareholders  have taken a decision to postpone the

meeting  until the Board of PJSC Grindeks announces the continuation of

the  meeting  in  the  official  newspaper Latvijas Vestnesis (Latvia's

Herald).

In  conclusion,  Valdis  Jakobsons remarked: "Unfortunately, changes in

the  government  and  the subsequent uncertainties in the Privatisation

Agency  cause  complications  for  Grindeks as well as for the Latvia's

pharmaceutical sector on the whole, as the capitalisation process, once

successfully started, is now being impeded".



Information prepared by:

Jana Semerikova, Head of the Public Relations Department, PJSC Grindeks

Tel.: 7083448; 9277837; e-mail: jana_semerikova@grindeks.lv