MERKO EHITUS

ANNOUNCEMENT

09.08.1999

 

MERKO EHITUS: INTERMEDIATE RESULTS OF SALE AND EXERCISE OF CALL 

OPTIONS FOR E.L.L. KINNISVARA AS SHARES

 

AS Merko Ehitus reports the intermediate results of the sale and 

exercise of the call options issued for the acquisition of the 

shares 

of E.L.L. Kinnisvara AS as of 06.08.1999. 

 

After the 02.08.1999 announcement of extension of purchase offering 

deadline, the majority shareholder AS Merko Grupp has bought 122064 

call options and exercised 33 call options. Purchase offering for 

call options ended on 06.08.1999. The call options for E.L.L. 

Kinnisvara AS shares can be exercised until 11.08.1999.

 

The majority shareholder AS Merko Grupp has bought and exercised 

call 

options for 95.5% of the shares of E.L.L. Kinnisvara AS, minority 

shareholders have exercised call options for 1.0% of the shares of 

E.L.L. Kinnisvara AS; volume of unexercised call options amounts to 

3.5% of the shares of E.L.L. Kinnisvara AS (if not exercised, these 

shares will remain to AS Merko Ehitus).

 

Ülo Metsaots

Member of the Management Board

Tel. +372 61 05 110