EESTI ÜHISPANK

ANNOUNCEMENT

26.08.1999

 

 

THE MERGER OF ÜHISLIISINGU AS AND TALLINNA PANGA LIISINGU AS

HAS BEEN ENTERED IN THE COMMERCIAL REGISTER

 

Eesti  Ühispank  herewith  informs  that  according to the decision of

Tallinn City Court pertaining to  the register case Ä17937/4 dated  25

August  1999,  the  following  entry  has  been made in the commercial

register:

 

Ühisliisingu  AS  has  acquired  TALLINNA  PANGA LIISINGU AKTSIASELTS

(registry code  10041419, with  its registered  office located  at 10B

Vabaduse  Square,  Tallinn).  The  merger  agreement  was signed on 21

September 1998  and the  merger resolution  was adopted  on 21 January

1999.

 

As a  result of  the merger,  TALLINNA PANGA  LIISINGU AKTSIASELTS  is

deleted from the commercial register.

 

At the time of merger of Ühisliisingu AS as the acquiring company  and

Tallinna Panga  Liisingu AS  as the  company being  acquired the share

capital  of  Ühisliisingu  AS  amounted  to  50,001,000  kroons  which

divided into 50,001 registered shares with the nominal value of  1,000

kroons each  share. The  share capital  of Tallinna  Panga Liisingu AS

amounted to  10,000,000 kroons  which divided  into 10,000  registered

shares with the nominal value  of 1,000 kroons each share.  The shares

of  Tallinna  Panga  Liisingu  AS  were  exchanged  for  the shares of

Ühisliisingu  AS  at  the  share  exchange  ratio  of 1:1. As a result

thereof, the amount of share  capital of Ühisliisingu AS increased  to

60,001,000 kroons. Tallinna Panga  Liisingu AS is deemed  dissolved as

of entry of the merger in the commercial register.

 

Background information:

 

Ühisliisingu AS  is a  universal leasing  company founded  on 1  March

1994. Following the merger, AS  Eesti Ühispank holds 97.2 per  cent of

the share  capital in  Ühisliisingu AS  (before the  merger, 96.7  per

cent). At the end  of the firs half-year  of 1999 the market  share of

Ühisliisingu AS in the Estonian leasing market was 23 per cent. As  at

the  end  of  June  1999  the  leasing  portfolio  of  Ühisliisingu AS

contained 32.2 per  cent of representational  vehicles, 33.2 per  cent

of  other  vehicles,  15.2  per  cent  of  equipment,  9.2 per cent of

property and 10.1 per cent of other objects of leasing.

 

The  chairman  of  the  supervisory  board  of  the  new   post-merger

Ühisliisingu AS  (with its  registered office  located at  Tornimäe 2,

Tallinn)  is  Andrus  Kimber,  the  duties  of  the  chairman  of  the

management board are  currently being performed  on a temporary  basis

by  Ülo  Suurkask.  The  new  post-merger  company  offers leasing and

factoring services in  all the three  Baltic states. The  subsidiaries

of Ühisliisingu AS are AS  Rentacar, Tallinna Pank Leasing Latvia  SIA

and Tallinna Pank Leasing Vilnius UAB.

 

Ülo Suurkask

Vice-president of AS Eesti Ühispank

Tel. +372 6656 350