TALLINNA KAUBAMAJA AS

ANNOUNCEMENT

12.04.98

 

ANNUAL GENERAL MEETING OF SHAREHOLDERS

 

Tallinna Kaubamaja AS (Gonsiori 2, 10143, TALLINN) will convene the 

annual general meeting of shareholders on May 7, 1999 in Tallinn, 

Sakala 3 (chamber hall of Sakala Center, 2. Floor), at 17.00 PM. The 

registration of participants will take place from 16.30 until 16.45.

 

AGENDA OF THE AGM

 

1.	Approval of the 1998 annual report.

2.	Profit distribution.

 

Retained earnings: 48 775 910 EEK.

Profit earned in the financial year of 1998 was 8 179 615 EEK.

Total profit to be distributed 56 955 525.

 

The Management Board’s proposal for profit distribution, approved by 

the Supervisory Board:

Reserve capital: 408 981 EEK;

To distribute between shareholders (for dividends) 10 182 300 EEK, i.e. 

1 EEK 50 cents per share;

Balance of profit for distribution after provisions 46 364 244 EEK.

 

Dividend payments will be made on a date approved by the annual general 

meeting of shareholders.

The persons registered in the shareholders’ register as shareholders or 

usufruct holders on a date of dividend payment, are entitled to receive 

dividends. 

 

3.	Amendments to Articles of Association.

 

4.	Recall and election of Supervisory board members.

 

5.	Appointment and determining the order of remuneration of 

auditors.

 

6. Change in the conditions of the option for the members of the 

Management Board, management and subsidiaries’ Management Boards 

of Tallinna Kaubamaja AS, as determined by the 1998 AGM.

The Supervisory Board proposes to change the option opening dates as 

follows:

30 % of the option will be realized in the second year (year 2000), and 

70 % of the option will be realized in the third year (year 2001).

 

Upon registration, the following documents need to be presented:

- private person shareholders – ID document (passport or equivalent 

document), private person’s representative – proxy and ID document;

- representatives of corporate shareholders – validated copy of 

Commercial Register’s B-card, pursuant to which the person has a right 

to represent the shareholder (legal proxy), and document proving the 

representative’s identity, or accurately formatted letter of attorney 

(transaction-based letter of attorney) and ID document.

 

The 1998 annual report is available for introduction during the 

workdays from 9:00 AM to 15:00 PM, starting from April 23, 1999, at the 

location of the administration of Tallinna Kaubamaja AS, Gonsiori 2, 

Tallinn.

 

 

MANAGEMENT BOARD OF TALLINNA KAUBAMAJA AS 

 

Urmo Vallner

Member of the Management Board

+372 64 00 200