AS ESTIKO

ANNOUNCEMENT

29.12.98

 

 

AS ESTIKO FORECAST FOR THE YEAR 1999 AND FURTHER DIRECTIONS OF 

DEVELOPMENT

 

On its 28.12.98 meeting, the Supervisory Board of AS Estiko 

affiliated group approved the amount of 7.0 million EEK as the 

1999 net profit forecast of AS Estiko affiliated group, and did 

not approve the net turnover forecast due to the adoption of 

principle strategic resolutions in March 1999.

 

Supervisory Board of AS Estiko affiliated group obliged the 

Management Board to present in February 1999 the strategic 

development plan until the year 2003, which foresees the 

renouncement of the trading activities via selling the majority 

as well as minority shareholdings in subsidiaries. The strategy 

of AS Estiko affiliated group would anticipate the 

concentration on the preferential development of production and 

the real estate development connected to that. 

 

As of 28.12.1998, the trading companies of AS Estiko are: AS 

Remark, AS Tartu Toidukaubad, OÜ Eniide, AS Eesti SPAR and its 

subsidiaries AS Estiko-Kommerts, Vesse Kaubanduse OÜ and AS RSM 

Hooldus. In December 1998, AS Estiko sold its shareholdings in 

AS Hollender and Milleenia Valduse AS, and in the subsidiary of 

the last-mentioned, AS Kesklinna Kaubahall.

 

 

Ilona Leib

Information manager of the affiliated group

Tel. +372 747 3649