Notification on material event
AB Šiaulių Bankas engaged Wood & Co to assist in review of strategic alternatives
The Management Board of AB Šiaulių bankas (“Bank”) has decided to conduct a review of strategic alternatives in support of further growth of the business of the Bank and to enhance shareholder value. The Bank selected Wood & Co and Superia Corporate Finance as financial advisors to assist in the review and signed the relevant agreement on 12 August 2019.
The Bank remains confident on the execution of its strategic business plan. At the same time, the review of strategic alternatives may allow the Bank to identify an additional strategic direction of the business of the Bank that enhances value for the shareholders, and may result in a transaction or a series of transactions, such as implementing a public offering of its shares, acquiring complementary businesses, applying for a listing on a different stock exchange, a sale of the Bank to a strategic or financial investor, merging with a third party, any combination of the above or any other transaction.
The Bank has not set a definitive timetable for completion of its review of strategic alternativesand there can be no assurances that the process will result in any transaction being announced or completed in the future. The Bank does not intend to make any further announcements related to its review unless and until the Management Board of the Bank has approved a specific transaction or otherwise determined that further disclosure is appropriate in accordance with applicable law.
WOOD & Company is the leading investment bank in Emerging Europe (see www.wood.com)
Superia Corporate Finance is the leading Baltic financial advisory firm (see www.superia.lt)
Additional information shall be provided by:
Head of Finance and Risk Management Division
Donatas Savickas,+370 41 595 602, firstname.lastname@example.org