TALLINN STOCK EXCHANGE

ANNOUNCEMENT

16.12.98

 

TSE LISTING COMMITTEE'S DECISION ABOUT EESTI ÜHISPANK

 

The TSE Listing Committee discussed on its 15.12.98 meeting the accordance of 

the activities of Eesti Ühispank with the section "Subscription requirements of 

Securities" of the TSE Rules and Regulations.

 

In accordance with the TSE Rules and Regulations, all the Issuer's similar shares 

must be listed on the Stock Exchange, and the application to list new shares 

should be presented to the Stock Exchange at least 9 days before the beginning of

the subscription period (article 4.8.1 of the section "Subscription requirements 

of Securities" of the TSE Rules and Regulations). The 26.11.98 extraordinary general 

meeting of AS Eesti Ühispank shareholders decided to increase the share capital via 

closed issuance by 15 million shares, and 03.12.98 was set to be the subscription 

period. However, the application of the additional subscription of the shares was 

presented to the Stock Exchange only on December 4.

 

The TSE Listing Committee found that the given situation can be treated as a 

violation of the section "Subscription requirements of Securities" of the TSE 

Rules and Regulations, and decided to issue a warning to AS Eesti Ühispank. 

 

 

TSE