Share registration closing date extension becomes effective

30.12.2002 TLN

On December 31st the amendments to the Estonian Central Register of Securities Act and Commercial Code will take effect to extend the deadline for registration of shares of public limited companies in the Estonian central register of securities by six months and alleviate sanctions for not fulfilling the registration requirement in time.

The President proclaimed the amendments to the law on December 23rd, to be published in �Riigi Teataja� on December 30th. The amendments will enter into force on the day after publishing in �Riigi Teataja�.

According to the previous wording of the law, all public limited companies registered in Estonia were required to register their shares with the central securities register operated by the Estonian CSD (ECSD) not later than by January 1, 2003. The new closing date for registration is July 1, 2003.

An overview of the amendments to the law is in ECSD earlier press release, available on our Internet homepage at http://www.depo.ee/english/publications/press/press_20021217.html

As of December 30th, 4797 public limited companies, accounting for 76% of all active public limited companies in Estonia, have applied for registration of shares in the Estonian central register of securities.

Additional information:

Eva Palu
Head of Marketing and PR Department
Tallinn Stock Exchange / Estonian CSD

HEX Tallinn
Tel: +372 640 8800
e-mail: