03.08.1999, Tallinna Farmaatsiatehas, TLN

TALLINNA FARMAATSIATEHASE AS 

ANNOUNCEMENT

03.08.99

 

CONTRACT WITH GRINDEKS

 

On 03.08.99, the Supervisory Board of TFT AS authorized the 

Management 

Board to conclude a contract with Grindeks in relation to Grindeks’ 

claim against TFT AS, acquired from Hansapank in the beginning of 

the 

current year. The respective contract was concluded by the Chairman 

of 

the Management Board.

 

The aforementioned contract will replace the earlier agreement 

concluded in January 1999, pursuant to which TFT AS undertook the 

obligation to make a proposal to the annual general meeting of 

shareholders to issue additionally shares in TFT and to include the 

claim acquired by Grindeks from Hansapank into the company’s share 

capital.

 

The annual general meeting of TFT AS shareholders resolved to issue 

additional shares, to be paid for in monetary form.

 

Today’s agreement specified the volume of Grindeks’ claim against 

TFT, 

its terms and repayment schedule.

 

 

Arno Kaseniit

Member of the Management Board

+372 612 02 01