AS KALEV

ANNOUNCEMENT

01.02.99

 

 

SUPERVISORY BOARD OF AS KALEV DECIDED TO INVEST IN THE 

UKRAINIAN FACTORY

 

The Supervisory Board of AS Kalev approved the Management 

Board’s proposal to increase the share capital of Zaporozhie 

confectionery factory. AS Kalev will subscribe for the shares 

in the amount necessary to acquire strategic holding in 

Zaporozhie confectionery factory. The volume of the investment  

is up to 30 million EEK, of which up to 14 million EEK will be 

paid in money, and a production line will be contributed as 

non-monetary payment. The exact volume of the investment will 

be decided in the course of further negotiations and after the 

issue conditions are specified.

Investment decision is also presented for inspection to the 

syndicate of the creditor banks.

 

General data about Zaporozhie confectionery factory:

Share capital 			4.3 million UAH 

Nominal value of a share   	5.00 UAH

Production capacity 		33 000 tons

Realization 1998		10 300 tons

Turnover 1998			21.9 million UAH

Employees			740 

1 UAH = 3.3 EEK

 

 

Tiina Altmets

Information manager

+372 650 8711