TALLINN STOCK EXCHANGE

ANNOUNCEMENT

17.09.99

 

RESOLUTIONS OF THE SUPERVISORY BOARD

 

The Supervisory Board of the Tallinn Stock Exchange (TSE) 

held its meeting on Thursday, 16.09.1999.

 

Acknowledging the need to improve the protection of minority 

shareholders in Estonia, the Supervisory Board discussed the 

implementation of take-over rules by the Tallinn Stock Exchange. 

The Supervisory Board resolved to base these rules on the 

respective European Union regulations, and directed the Exchange 

to work out relevant amendments to the TSE Rules and Regulations 

and proposals for amendments to the relevant Estonian laws.

 

The Supervisory Board also discussed the Exchange's 

strategy towards co-operation with international stock 

exchange alliances. The Supervisory Board resolved to 

authorise the TSE Management Board to continue negotiations 

aimed at joining of the NOREX Alliance. NOREX is an alliance 

formed between the Copenhagen Stock Exchange and the OM 

Stockholm Exchange, which is based on a common trading platform, 

cross-membership, single listing and a common set of rules. 

The goal of NOREX is the creation of one-stop shop for 

Scandinavian and Baltic financial instruments.

 

 

Additional information:

 

Eva Palu

Head of Investor Relations Department

+372 64 08 840