TALLINN STOCK EXCHANGE

ANNOUNCEMENT

16.12.98

 

TSE LISTING COMMITTEE'S DECISION ABOUT HÜVITUSFOND

 

The TSE Listing Committee discussed on its 15.12.98 meeting the accordance of 

the disclosure of information by Hüvitusfond with the provisions of the

TSE Rules and Regulations.

 

In accordance with the articles 7.3.2 and 3.6.1 of the section "Requirements 

to Issuers" of the TSE Rules and Regulations, the Issuer is obligated to inform 

the stock exchange about fixing the shareholders' list at least nine stock exchange 

days before the date of fixing, and the announcement must include the amount of 

the interest paid, the terms and the date of the interest payment, and the income 

tax volume withheld by the issuer from the interest paid. In accordance with the 

article 3.6.5 of the same subdivision, the Issuer is obligated to postpone the fixing 

date of the shareholders' list in case it fails to make a respective announcement in 

time.

 

In the morning of 17.11.98, after the trading had begun, Hüvitusfond announced in

its stock exchange announcement that the list of the Hüvitusfond VIII-series bondholders 

for interest payments will be fixed as of the end of the day of 18.11.98. Thus, the

investors did not receive the information that the ex-date for the VIII-series bonds was 

16.11.98 promptly.

 

The TSE Listing Committee found that the given situation can be treated as a 

violation of the section "Requirements to Issuers" of the TSE Rules and Regulations,

and decided to issue a warning to Hüvitusfond. 

 

 

TSE