Last update: 04.07.2024 14:15 (GMT+3)

Hüvitusfond: Supervisory Board decision

14.01.2000, Hüvitusfond, TLN
HÜVITUSFOND
ANNOUNCEMENT

SUPERVISORY BOARD DECISION

The Supervisory Board of Hüvitusfond decided not to pay additional
interest for II half year of 1999 due to the deficit of capital
stock, resulted from the loss for the 1998 financial year.

By the year 1998, Hüvitusfond had earned a profit of 235 million
EEK, but it ended the year with a loss of 370 million EEK, which
resulted in the capital stock deficit of 135 million EEK. The
approximate profit earned in 1999 does not cover the 135 million
EEK deficit.

The payments of additional interests are decided twice a year by
the Supervisory Board of Hüvitusfond, by January 20 and July 20 at
latest.

The net result of Hüvitusfond for the first three quarters is a
76.3 million EEK profit. The net asset value increased by 292
million EEK, amounting to 1.012 billion EEK at the end of the
period. Revenues from privatisation amounted to 258 million EEK.

The preliminary results of Hüvitusfond's financial year of 1999
will be published at the end of February.


Jaanus Kosemaa
Head of Public Relations
+372 66 51 800, +372 51 04 614

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