1999.03.23, Tallinna Farmaatsiatehas, TLN

TALLINNA FARMAATSIATEHASE AS 

ANNOUNCEMENT

23.03.99

 

 

 

The Supervisory Board of Tallinna Farmaatsiatehase AS decided on 

23.03.99 to include another member to the Management Board of TFT AS.

 

The Supervisory Board elected Jelena Borcova the Management Board 

member, and appointed her the Chairman of the Management Board.

  

Arno Kaseniit will continue as a Management Board member.

 

The change in the Management Board was necessary due to the 

restructuring of the production processes in TFT AS, transfer to the 

standards of “good management of production” practices, and continuing 

optimization of the company’s expenditures.

 

Jelena Borcova was appointed as a candidate for the aforementioned 

positions by the Management and Supervisory Boards of the parent 

company of TFT AS, Grindeks. 

 

J. Borcova (33) graduated in 1988 from the pharmaceutical department of 

the Riga Medical Institute, and in 1997 from the Latvian Business 

School.

 

J. Borcova has worked in Grindex since 1988 as technologist, and 

starting from 1994 as manager of production department. 

 

Working in Grindex, J. Borcova has had experience in organizing the 

transfer of pharmaceutical production to the standards of GMP.

 

J. Borcova does not hold shares in TFT AS.

 

TFT AS will publish its 1998 financial reports on coming Tuesday 

30.03.99, after the end of the stock exchange day, at the latest.

 

 

Arno Kaseniit 

Member of the Management Board 

tel. +372 612 0201