EESTI TELEKOM

ANNOUNCEMENT

21.05.1999

 

RESOLUTIONS OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS OF AS EESTI 

TELEKOM 

 

The Annual General Meeting of AS Eesti Telekom passed today the 

following resolutions:

 

1. Adoption of the Annual Report of the Company for the 1998 

financial year.

2. The division of the net profit in the amount of EEK 313,730,370 of 

1998 as follows: 

- EEK 31,373,037, i.e. 10% of net profit to be allocated to the 

legal reserve;

 

- EEK 62,756,950, i.e. 20% of net profit to be distributed to the 

shareholders as dividends as follows:

 

(a) There are 73,500,000 A-shares with a title of dividends. 

The amount of dividends to be paid out to the A-shares. 

Dividends for A-shares to be distributed: EEK 62,746,950 or 

EEK 0,8537 per one share.

(b) There is one B-share with the title to dividends. 

Dividends for B-shares to be distributed EEK 10,000.

 

- The remaining part of the net profit for 1998, i.e. EEK 

219,600,383 to be carried to retained earnings.

 

The list of the shareholders entitled to dividends for 1998 shall be 

closed on 07 June 1999 at 08.00, the dividends shall be paid out on 

14 June 1999.

 

3. To recall the Supervisory Council of AS Eesti Telekom.

4. To elect a new Supervisory Council consisting of 10 members with 

the following members: Meelis Milder, Veiko Tali, Aare Tark, 

Hannes Tamjärv, Brian R. G. Epp, Bo Hendriksson, Tapani 

Holopainen, Mikko Pirinen, Hans Golteus, Lars-Erik Samuelsson.

5. To appoint Mr Andres Root (KPMG Estonia) as the auditor of the 

company for the financial year 1999.

 

 

Raul Kalev

Public Relations Manager

AS Eesti Telekom

+372 646 0220