TALLINN STOCK EXCHANGE

ANNOUNCEMENT

 

TSE AND HEX FINALISE OWNERSHIP ARRANGEMENTS

 

Tallinn Stock Exchange (TSE) and HEX have finalised share purchase 

and shareholder agreements, as a result of which HEX has acquired a 

52.4% ownership in the TSE.

 

HEX has bought 298 existing shares from current shareholders as 

well as subscribed for 100 newly issued shares at a price of EEK 

45,000 (~2,875 EUR) per each TSE share. After the issue, TSE has 

760 shares outstanding with a nominal value of EEK 10,000.  

 

Required regulatory approvals from the Ministry of Finance and the 

Competition Board in Estonia have been received. 

 

The Ministry of Finance has decided to sell its holding of 34 

shares in a tender offer and is currently in the process of 

finalising the agreement with HEX. After their transaction, the 

amount of shares held by HEX will rise to 432 shares or close to 

57% of the total number of shares outstanding.

 

New shareholder structure of TSE after the Ministry of Finance has 

sold its shares to HEX will be as follows: 

 

                                 No of shares  Pct of total

HEX                                    432       56.84%

Hansapank                              100       13.16%

Eesti Ühispank                          92       12.11%

Lõhmus, Haavel & Viisemann              53        6.97%

Eesti Pank/Central Bank of Estonia      34        4.47%

Cresco Väärtpaberid                     24        3.16%

Suprema Securities                      10        1.32%

Traader 	                        10        1.32%

Eesti Krediidipank                       5        0.66%

TOTAL	                               760	100.00%

 

The Central Bank of Estonia has agreed to reduce its stake in TSE 

and that agreement should also be concluded shortly. 

 

The new supervisory board and amended Articles of Association of 

the TSE will be approved at the extraordinary shareholders' meeting 

of TSE, due in the coming weeks. 

 

TSE and HEX will now start to focus on operational issues, the main 

aim of which is to launch trading with Estonian securities in the 

HEX trading system during this year.

 

HEX GROUP					TSE

 

Jukka Ruuska					Gert Tiivas

President and CEO of HEX Group		CEO of TSE

 

Further information will be provided by:

 

Mr Jukka Ruuska 		Tel: +358 9 6166 7200

Mr Gert Tiivas			Tel: +372 6 408 840