Premia Foods shares start trading on NASDAQ OMX Tallinn Stock Exchange

05.05.2010 TLN

NASDAQ OMX Tallinn press release, 5 May 2010

Today, shares of the Premia Foods (PRF1T) public limited company started trading on the NASDAQ OMX Tallinn Stock Exchange. By means of the initial public and institutional offerings, 14.5 million Premia Foods shares priced at EEK 14 (EUR 0.89), with the value of the issue totalling EEK 203 million (EUR 12.97 million). The price of the share closed at EUR 0,89 by the end of its first day on the stock exchange.

“Premia’s timing on raising capital was excellent, and the over-subscription of shares clearly indicates investors’ interest in finding new opportunities for investing funds. Add to that the fact that in the first 4 months of this year almost twice the number of trades as at the same time last year have been completed on the Tallinn Stock Exchange – this could be encouragement to all business operators considering raising capital on the Stock Exchange”, Andrus Alber, Chairman of the Management Board of the NASDAQ OMX Tallinn Stock Exchange, said.

“Premia Foods was very happy with the IPO, and we welcome all the new investors to the Premia family. We are particularly pleased at the active participation of retail investors in the subscription of Premia Foods shares and also hope that due to the improvement in the economic environment, additional new companies will be added to the Tallinn Stock Exchange,” Kuldar Leis, Chairman of the Management Board of AS Premia Foods, said.

On its first day of trading, 146 trades with Premia Foods shares were completed, with the turnover for the day closing at EEK 2,84 million (EUR 0,18 million). In stock exchange transactions, 205 590 shares changed owners on the first day. The market capitalisation of the company, as at the closing of the first day of trading, is EEK 538,7 million (EUR 34,4 million).

As of today, the list of shareholders in Premia Foods may be inspected on the e-Register webpage (www.e-register.ee). As at the opening of the first day of trading, the company has a total of 1 405 shareholders, and shares in free circulation account for 27% of the share capital. Most shareholders in Premia Foods are from Estonia (1 397, holding 33,5% of the shares), followed by residents of Luxembourg with 2 investors (holding 60,3% of the shares) respectively.

The international GICS (Global Industry Classification Standard) classification of Premia Foods is 30202030 (Packaged Foods & Meats). Premia Foods shares will be listed in the OMX Tallinn general index of the NASDAQ OMX Tallinn Stock Exchange and in the general and sectoral indices of Baltic stock exchanges as of tomorrow, 6 May 2010.

AS Premia Foods is a diversified group of food companies engaged in the production and distribution of ice cream; raising, production and distribution of fish; and the distribution of frozen products in the Baltic States, Scandinavia and Northwest Russia. The strategic objective of the Group is to become the leading company in the processing and sales of frozen and chilled foods in the said regions, and to that end the Group is focusing on expansion, creating synergies and increasing efficiency.

The lead manager of the initial public offering of Premia Foods shares was Swedbank.