AS PENNU COMPUTER TECHNOLOGY GROUP

ANNOUNCEMENT

30.09.99

 

 

COMMENTARY TO CONSOLIDATED AND UNAUDITED 12-MONTHS RESULTS 

OF 1998/99 FINANCIAL YEAR

 

The consolidated net sales of AS Pennu Computer Technology Group 

in 1998/99 financial year amounted to 127.5 million EEK and 

consolidated loss was 42.1 million EEK, incl. -11 299 198 EEK loss 

from disposal of shareholding in Järve Kinnisvarahoolduse AS and 

-332 375 EEK loss from sale of shareholding in ID Süsteemide AS.

 

As of 30.06.99, the consolidated balance sheet volume of AS Pennu 

Computer Technology Group totaled 43.9 million EEK.

 

The volume of current assets amounted to 30.5 million EEK. Asset 

deficit amounted to 34.8 million EEK. Current liabilities totaled 

45.3 million EEK, and non-current liabilities 96 thousand EEK. Volume 

of owners equity amounted to -1.4 million EEK.

 

In order to increase the company's owners' equity, AS Pennu Computer 

Technology Group will issue 400 000 shares at issue price of 20 EEK 

per share. The issue will be guaranteed by Balti Cresco 

Investeerimisgrupi AS.

 

 

Arho Anttila

Chairman of the Management Board

AS Pennu Computer Technology Group

Tel. +372 60 53 760

arho@pct.ee