AS PENNU COMPUTER TECHNOLOGY GROUP

ANNOUNCEMENT

03.05.99

 

ADDITIONAL INFORMATION ABOUT THE SALE OF TARTU BRANCH OF THE SUBSIDIARY 

OF PENNU COMPUTER TECHNOLOGY GROUP

 

 

AS PCT Arvutid, which is 100% owned by Pennu Computer Technology Group 

(PCTG), sold its 50% shareholding in A & Ü Majandustarkvara OÜ to the 

co-owners of the company. A & Ü Majandustarkvara OÜ computer store in 

Tartu is a part of the PC Expert chain. 

 

Cost of the above transaction was EEK 250 000, which will be paid in 

parts until November 2000. The transaction-related liabilities of the 

buyer are secured by notarial collateral. 

 

PCTG confirms that the above transaction cannot be considered as 

transaction with related parties, as determined by the Rules and 

Regulations of the Tallinn Stock Exchange. Disposal of shareholding in 

A & Ü Majandustarkvara OÜ does not affect the sales results of PCTG. 

Disposal of shareholding in the computer store does not bring along the 

closing of PC Expert store in Tartu. The store will continue its 

operations under the same name, selling computers made by PCT.

 

Sale of Tartu store is the first step on implementation of new sales 

strategies of PCTG, which anticipate the disposal of majority of 

computer stores and transition to the system of franchising. The goal 

of PCTG is to create a retail sales and service structure covering the 

whole Baltic area. 

 

 

Additional information:

Arho Anttila 

AS PCTG manager

Tel: +372 65 05 402