AS Kalev               Stock Exchange Release               27.12.2005



AS Kalev wins court case over notary



On 22 December 2005, AS Kalev received the Tallinn Circuit Court judgement 

of 28 November 2005, satisfying AS Kalev’s claim and obliging Tallinn notary 

Aivar Mesikäpp to certify the minutes of the ordinary general meeting of 

the shareholders of AS Kalev, held on 14 December 2003. The court also 

ordered the notary to cover the legal expenses in the amount of 16,667 kroons.



On 23 December 2003, Tallinn notary Aivar Mesikäpp issued an instrument on 

the refusal to conduct a notarial transaction, refusing to certify the minutes 

of the ordinary general meeting of the shareholders of AS Kalev, held on 

14 December 2003. The notary justified his refusal to certify the minutes with 

the assertion that concurrent validity of two different voting results recorded 

in the minutes would be illicit and would violate good practice. In addition to 

the minutes prepared by the elected chairman and secretary of the general 

meeting, the shareholder AS Milestone also submitted to the notary minutes 

prepared by AS Milestone’s representatives in the company’s own initiative. 

The notary also claimed it was impossible to verify the validity of the results 

of the electronic votes recorded at the meeting by the Estonian Central 

Register of Securities.



AS Kalev found that the refusal to certify the minutes due to reasons provided 

by the notary was unjustified, and went to court in order to protect its 

interests.



The ruling of the Tallinn Circuit Court states that Tallinn notary Aivar 

Mesikäpp misinterpreted the respective stipulations of the Notarisation Act 

upon refusing to certify the minutes of the general meeting, and that there 

is no actual legal basis for refusing to certify the minutes. 

The misinterpretation and the dispute with AS Kalev, which ordered the 

certification, have led to an unprecedented situation – the notary Aivar 

Mesikäpp has unlawfully delayed certification for over two years.





Ruth Roht

PR manager

+372 6 077 858