TALLINN STOCK EXCHANGE

ANNOUNCEMENT

11.06.99

 

LISTING COMMITTEE’S DECISION ABOUT EESTI TELEKOM

 

TSE Listing Committee discussed on its 11.06.1999 meeting possible 

violation of the provisions of the TSE Rules and Regulations by AS 

Eesti Telekom.

 

Pursuant to the 28.12.1999 decision of the sole owner of AS Eesti 

Telekom, the company issued 63 883 178 shares and entitled three 

persons with the right to subscribe for the shares. 

The "Share Subscription Contract” and “Contract for Completion of Share 

Subscription and Non-Monetary Payment" was concluded on 24.03.1999. 

Eesti Telekom informed the public of the aforementioned contracts on 

16.04.1999 after registration of increase in share capital in the 

Commercial Register, i.e. after restructuring of the company was 

completed.

 

Pursuant to article 5.4 of section “Requirements for Issuers” of the 

TSE Rules and Regulations, the Issuer is obliged to inform the Exchange 

immediately of all circumstances, events and transactions, which are 

not regulated by the TSE Rules and Regulations but which can have a 

significant influence on the issuer’s financial standings and 

activities, or any expectations of performance, or likely to have a 

significant effect on the price of the issuer’s securities. 

 

The TSE Listing Committee found that the present situation can be 

treated as a violation of provisions of article 5.4. of section 

“Requirements for Issuers” of the TSE Rules and Regulations, and thus 

decided to issue a warning to AS Eesti Telekom.

 

 

TSE