AS PENNU COMPUTER TECHNOLOGY GROUP

ANNOUNCEMENT

24.08.99

 

RESOLUTIONS OF THE EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS

 

The extraordinary general meeting of AS Pennu Computer Technology 

Group 

shareholders was held on 23 August 1999.

 

Total of 5 (five) shareholders of the company attended the meeting, 

representing 800 713 (eight hundred thousand seven hundred and 

thirteen) votes. As 50.04% of total votes represented by shares 

were 

present, the meeting was eligible to make resolutions.

 

The extraordinary general meeting made the following resolutions:

 

1. To make the following amendments to the Articles of Association: 

1998/1999 financial year shall end on 31.12.1999; henceforth the 

financial year of AS PCTG shall last from 01.01 until 31.12.

 

2. To make the following amendments to the Articles of Association: 

The 

new business name of AS Pennu Computer Technology Group shall be AS 

XXL.EE.

 

3. To increase the share capital of AS PCTG by 4 million EEK via 

issue 

of 400 000 new shares at 10 EEK par value and 10 EEK premium.

 

4. In order to acquire 100% holding in OÜ Internetivärav XXL, to 

direct 

the issue of 100 000 new shares to the owners of OÜ Internetivärav 

XXL, 

who will pay for the shares to be issued via non-monetary payments;

 

5. To grant the purchase right for 300 000 shares to the current 

shareholders of AS PCTG, based on the list of shareholders as of 23 

August 1999 (before opening of trade on the stock exchange)

Subscription and payment for the shares shall take place from 

25.8.1999 

until 8.9.1999. Payment for shares shall take place in monetary 

form 

for 300 000 shares to be issued, and non-monetary form for 100 000 

shares to be issued directly to the owners of OÜ Internetivärav 

XXL. 

 

 

Additional information:

Arho Anttila

AS Pennu Computer Technology Group

Telefon: + 372 650 5402

arho@pct.ee