AS OPTIVA PANK

ANNOUNCEMENT

14.04.99

 

RESOLUTIONS OF THE 13.04.99 ANNUAL GENERAL MEETING OF AS OPTIVA PANK 

SHAREHOLDERS 

 

30 shareholders and/or shareholders’ proxies participated in the 

meeting, representing a total of 28 688 854 votes, or 69.538% of total 

votes.

 

The annual general meeting of the shareholders resolved the following:

 

1. to approve the 1998 annual report of AS Optiva Pank.

For: 28 684 104 votes, or 99.983%

 

2. to appoint Urmas Kaarlep of PricewaterhouseCoopers AS to audit the 

1999 financial reports of AS Optiva Pank.

For: 28 686 154 votes, or 99.991%

 

3. to transfer the loss of AS Optiva Pank in the financial year of 1998 

in the amount of 264 973 513 EEK to the balance sheet account "Retained 

earnings (loss)".

For: 28 686 204 votes, or 99.991%

 

4. The members of the Supervisory Board to be remunerated as follows: 

1) remuneration and privileges to the Chairman of the Supervisory Board 

are equal to the remuneration and privileges to the Chairman of the 

Management Board;

2) remuneration to each member of the Supervisory Board (except 

Chairman) is 1/10 of the amount of remuneration of the Chairman of the 

Supervisory Board;

3) bank will cover all transportation costs of the members of the 

Supervisory Board related to the Board meetings.

 

The present resolutions will be effective as of 01.01.1999. 

For: 28 672 610 votes, or 99.943%

 

 

Ranno Pajuri

Director of Market Communications

Optiva Pank

Tel. +372 63 02 181