AS BALTIKA

ANNOUNCEMENT

24.04.99

 

RESOLUTIONS OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS

 

The 24.04.99 annual general meeting of AS Baltika shareholders made 

the following resolutions:

 

1. To approve the 1998 annual report of AS Baltika and auditor’s 

report.

2. Not to distribute net profit earned in 1999, in total amount of 

EEK 1,460,087  (one million four hundred sixty thousand eighty 

seven), and transfer it to the account of retained earnings.

3. To recall the members of the Supervisory Board of AS Baltika Mr. 

I. Neivelt, Mr. E. Köster and Ms. R. Saks

4. To elect new Supervisory Board of AS Baltika for the following 

three years with three members:

Miles W. Burger

      	Joakim J. Helenius

		Reet Saks

57.50% of total votes represented by shares participated in the AGM. 

 

 

New members of the Supervisory Board of AS Baltika:

 

Miles W. Burger -

president of the major export client of AS Baltika, English company 

Major Oak, cooperation partner for 9 years;

35- year experience in production of clothing;

chairman of the Supervisory Board of AS Briti Kaubamaja (Next), 

connected with AS Baltika (19.2% shareholding);

Owns 24000 shares in AS Baltika 

 

Joakim J. Helenius-

Estonian representative of the largest shareholder of AS Baltika, 

Baltic Republic Fund (BRF);

chairman of the Supervisory Board of Hansa Investments;

member of the Supervisory Boards of several Estonian companies, where 

BRF holds shares;

internationally experienced investment banker;

Does not hold shares in AS Baltika

 

Reet Saks-

Lawyer in Raidla & Partnerid, consulting AS Baltika;

Does not hold shares in AS Baltika 

 

 

 

Meelis Milder

Chairman of the Supervisory Board