XXL.EE

ANNOUNCEMENT



SIGNING OF PRELIMINARY AGREEMENT



On April 14 Scandinavian Baltic Development Limited and CC Computers OÜ 

(XXL.EE core investor) made a preliminary agreement, pursuant to which a 

proposal will be made to the annual general meeting of AS XXL.EE shareholders 

to increase the company's share capital through directed issue of 1,000,000 

shares at issue price of EEK 34, whereas 897,060 shares to be issued will be 

directed to the European Bank of Reconstruction and Development (EBRD) and 

102,940 to AS Cresco Ventures.

 

Scandinavian Baltic Development Limited is the fund manager for EBRD's Baltic 

Post Privatisation Fund.

 

The agreement will come to force after the annual general meeting of AS 

XXL.EE shareholders has agreed to issue shares, and it is approved by Baltic 

Post Privatisation Fund's investment committee.

 

If necessary, XXL.EE will submit an application to the stock exchange listing 

committee to make an exception to the provisions of article 6.4.4 of chapter 

"Requirements to Issuers" of Tallinn Stock Exchange Rules and Regulations, 

whereby XXL.EE is obligated to guarantee that the sale price of directly 

issued shares does not differ substantially from the market price of the 

shares.





Arho Anttila arho@xxl.ee

CEO

+372 6 507 500