AS EESTI TELEKOM

ANNOUNCEMENT

29.04.99

 

 

The ordinary General Meeting of the shareholders of Estonian Telecom 

located in Roosikrantsi 2, Tallinn shall be held on May 21, 1999 at 2 

p.m. in the Theatre Hall of Sakala Centre, at Sakala 3, Tallinn.

 

Agenda:

 

1. Approval of 1998 annual report (financial report, management 

report, auditor’s report and proposal of the allocation of the net 

profit) and allocation of the profit.

2. Re-election of the members of the Council.

3. Remuneration of the members of the Council.

4. Election of the auditor and remuneration of the auditor.

 

According to the agenda the Management Board shall propose to 

allocate the net profit of 1998 which amounted to EEK 313,730,370 as 

follows:

1. EEK 31,373,037 i.e. 10 % of the total net profit shall be 

allocated to the legal reserve;

2. EEK 62,756,950 i.e. 20 % of the total net profit shall be paid out 

as dividends to the shareholders as follows:

2.1 A total 73,500,000 A-shares are entitled to dividends. 

EEK 62,746,950 shall be paid out to the shareholders of A-shares 

i.e. EEK 0,8537 per share.

2.2 One B-share is entitled to dividends.

EEK 10,000 shall be paid out to the shareholder of B-share.

 

3. The remaining part of the net profit of 1998 i.e. EEK 219,600,383 

shall be reported as retained earnings.

 

The shareholders registered in the share register of Estonian Telecom 

by 

May 21, 1999 at 8.00 a.m. are entitled to attend the General Meeting.

 

The 1998 annual report is available for all shareholders on Internet 

page:

<a href='http://www.telekom.ee' target='_blank'>http://www.telekom.ee</a> and in the office of the Estonian Telecom at 

Roosikrantsi 2, Tallinn since May 5, 1999 on working days from 10.00 

a.m. to 2.00 p.m.

 

The documents required for registration to the General Meeting:

- private persons should deliver passport and the power of attorney 

attested by a notary in case of representative; 

- representative of the legal entity shall deliver a copy of the 

registration documents issued by the relevant authority (Estonian 

legal entity shall deliver a copy of the Commercial Register B-

card, issued within 15 days) that proves that he/she is legally 

authorised to represent the legal entity or in case the person has 

no legal authorisation the pro forma power of attorney issued by 

the relevant body of the legal entity is required. Also passport 

is needed for identification.

- representative of the non-residential legal entity shall deliver 

the above mentioned documents in legalised form.

 

 

Management Board of the Estonian Telecom