AS ESS

ANNOUNCEMENT

20.11.98

 

 

APPLICATION TO DELIST THE SHARES

 

The Management Board of AS ESS presented to the Management Board 

of the Tallinn Stock Exchange the application to delist AS ESS 

shares from the secondary list of TSE by December 30, 1998 at the 

latest.

 

The Management Board of AS ESS noted in its application that 

during the past half year, there has been no significant interest 

towards the ESS shares on the stock exchange. Most of the 

transactions have been conducted by major shareholders or their 

proxies. As of November 1, 1998, the public investors owned less 

than 10% of the ESS shares. This percentage number will decrease 

even further since Hansapank has made a share purchase offering 

to the small investors, which is planned to end on November 20, 

1998.

 

The Management Board of AS ESS has a reasonable basis to believe 

that after the end of the share purchase offering, the public 

investors will lose every interest in trading in ESS shares.

 

The Management Board is obliged to supervise the protection of 

the interests of small investors also after delisting the ESS 

shares.

 

 

Indrek Lindsalu

PR Manager

+372 6 266 700