AS PRO KAPITAL

ANNOUNCEMENT

11.10.99

 

 

PRO KAPITAL ACQUIRED CALL OPTIONS FOR AS ARCO KINNISVARAARENDUS SHARES

 

On 11.10.1999 AS Pro Kapital and Baltic Investments Ltd. made an agreement, 

pursuant to which AS Pro Kapital is granted the right to purchase 50% stake 

in AS Arco Kinnisvaraarendus for 50 million EEK. According to the agreement, 

AS Pro Kapital can purchase the shares before 31.12.1999. The transaction 

was not concluded between related parties. 

 

AS Arco Kinnisvaraarendus was established for development of the area of the 

former Tondi military base in Tallinn. AS Arco Kinnisvaraarendus owns 

180 000 m2 of land with buildings.

 

 

Andrus Laurits

Managing Director, Management Board member

Pro Kapital

Tel. +372 61 44 920