AS PRO KAPITAL

ANNOUNCEMENT

27.08.99

 

 

SUBSIDIARY OF PRO KAPITAL WILL GUARANTEE THE CREDIT LINE GRANTED TO 

AS HÜPERMARKET

 

On 26.08.1999, OÜ Nurmelin (subsidiary of Pro Kapital) concluded 

with 

AS Hansapank a guarantee agreement, based on which OÜ Nurmelin will 

guarantee the 20 million EEK credit line granted by Hansapank to AS 

Hüpermarket.

 

Hansapank granted to AS Hüpermarket 20 million EEK credit line for 

period of 6 months, which is first secured by floating charge on 

Hüpermarket’s assets and secondly by OÜ Nurmelin guarantee.  

 

AS Hüpermarket is one of the largest retailers operating in 

Kristiine 

Kaubanduskeskus (Kristiine Shopping Center), which manages the 

hyper-

market selling foodstuff and commodities under Primo trademark. 

Kristiine Kaubanduskeskus is owned by OÜ Nurmelin, the subsidiary 

of 

Pro Kapital. Pro Kapital has 60.62% holding in OÜ Nurmelin.

 

The aforementioned agreement is valid until AS Hüpermarket has 

fully 

met its liabilities to AS Hansapank; the agreement includes no 

additional obligations to neither OÜ Nurmelin nor AS Pro Kapital.

 

 

Andrus Laurits

Managing Director, Member of the Management Board

Pro Kapital

Tel. +372 614 4920