Last update: 24.11.2024 18:09 (GMT+2)

TSE: Listing Committee's decision about AS Kalev

11.01.2000, Kalev, TLN
TALLINN STOCK EXCHANGE
ANNOUNCEMENT

LISTING COMMITTEE'S DECISION ABOUT AS KALEV

TSE Listing Committee discussed on its 11.01.99 meeting a possible
violation of the provisions of the TSE Rules and Regulations by AS
Kalev.

Pursuant to article 6.2.3. of chapter "Requirements for Issuers" of
the TSE Rules and Regulations, the issuer is required to inform the
Exchange immediately on all resolutions passed by the general
meeting of shareholders.

According to article 1.2.3. of chapter "Requirements for Issuers"
of the TSE Rules and Regulations, the information disclosed by the
issuer should not contain misleading information and should not
miss out or exclude anything, which would influence the contents or
meaning of the information presented.

After the general meeting of shareholders on December 1, 1999,
Kalev made an announcement about the decision to recall and elect
the Supervisory Board members.

On December 2, BNS released an announcement, according to which the
general meeting of shareholders also stipulated the wages of the
Supervisory Board. In the announcement released the previous day,
there was no information about the decision on wages of the
Supervisory Board members. On the same day, i.e. on December 2,
1999, Kalev made an additional announcement, which included
information about the stipulation of wages to the Supervisory Board
members.

The TSE Listing Committee found that the present situation can be
treated as a violation of provisions of articles 1.2.3. and 6.2.3.
of section "Requirements for Issuers" of the TSE Rules and
Regulations, and thus decided to issue a warning to Kalev.


TSE


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