Regarding the notification of the Board of AB SNAIGĖ about the intention to delist the Company's shares from trading on the regulated market of AB Nasdaq Vilnius and to no longer offer the shares to the public
The share price indicated in the Board announcement is weighted average price of the last 6 months, which had to be specified in accordance with the Law on Securities (Article 29 (1) (1p)). The price of the Official tender offer due to delisting of the company is not set yet. It will be set not by the Company, but by the shareholders who will vote in favor of the decision in general meeting of shareholders on February 11 2021.
The company itself (if the necessary decisions are adopted at the meeting of shareholders) will not sell or buy its shares during the official tender offer, nor will set offer price, but will only inform the public about the decisions made in accordance with the legal acts. To the Company's knowledge, the major shareholder does not plan to announce a mandatory redemption of shares, therefore its minority shareholders will have the right (but not the obligation) to sell the shares at the offer price at the time of the Official tender offer. The management of the company equally represents the interests of all its shareholders in this process.
The loan granted to the related companies of the Company was transferred from the companies that became insolvent to the companies and persons that are able repay it. Over the past three years, partial repayments of this loan have been done each year. In the future, to the knowledge of the Company's management, the repayment of the loan will continue. All information related to the Company's financial activities is public, and its activities are regulated and supervised by the Bank of Lithuania.
The possible delisting of the Company's shares from trading on the regulated market of AB Nasdaq Vilnius does not and will not have any impact on the Company's operations, results or its value. The Company does not intend to change its legal status and will continue to publish information about its activities in the media and on its website.
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