Kaunas, Lithuania, 2011-12-30 15:33 CET (GLOBE NEWSWIRE) --
On 22 December 2011 the term of 90 days, during which all the shareholders of SANITAS AB (hereinafter, “Company”) had to sell their shares, held in the Company to the Company’s shareholder, executing the squeeze-out of Company‘s shares Valeant Pharmaceuticals International, Inc. (hereinafter, “Valeant”), or contest the price proposed by Valeant for the Company’s shares, as it is foreseen in item 9 of Article 37 of the Law on Securities of the Republic of Lithuania, has matured (the Company announced on the initiation of squeeze-out of the Company’s shares on 23 September 2011, by notifying the notification on material event and informing each shareholder with a notification sent by registered mail).
As the Company was informed by Valeant, its proposed price for the Company’s shares was not contested following the aforementioned terms, and on 30 December, 2011 Valeant, following item 10 of Article 37 of the Law on Securities of the Republic of Lithuania applied to Vilnius City 3rd Local Court by submitting the documents proving the payment transfer to the deposit account No. LT34 7044 0600 0778 8586, opened in AB SEB bankas to the shareholders of the Company who have refused to sell their shares, and requiring to oblige the account managers to perform the necessary entries in the securities accounts on the transfer of the title to Company’s shares to Valeant.
A person authorized to provide additional information: Mr. Saulius Jurgelenas, Chief Executive Officer of Sanitas, AB phone number +370 686 67779.
Lawyer
Dovilė Morkytė
+370 615 15163