LEKS KINDLUSTUS

ANNOUNCEMENT

03.05.99

 

DISPOSAL OF SHAREHOLDING IN INSURANCE COMPANY SAULES LAIKS

 

Leks Kindlustuse AS and Leks Elukindlustuse AS (total shareholding 

in Saules Laiks share capital 78.10%) entered on 15.04.1999 into a 

contract with Latvian insurance company Balta (Valpu iela, Riga, 

Republic of Latvia) to sell 507 shares held by Leks Kindlustuse AS 

and 45 shares held by Leks Elukindlustuse AS. The other parties in 

the transaction were also Latvian insurance companies Latva (Valpu 

iela, Riga, Republic of Latvia) and Rigas Apdrosinasanas Sabiedriba 

(Valpu iela, Riga, Republic of Latvia), which both acquired 7 shares 

in Saules Laiks, or a total of 2% holding in share capital. Since 

one of the preconditions for the aforementioned contract to become 

effective was the approval of the audited financial results of 

Saules Laiks, then the content of this contract was not disclosed 

before the company’s audited results were clear. 552 shares in 

Saules Laiks were sold at a price of 136 632.- LVL or 3.4 million 

EEK.

The Supervisory Board of Leks Kindlustuse AS approved the decision 

to dispose the shareholding in Saules Laiks on 31.03.1999. 

 

 

Pille Kaselo

PR Manager

Tel. +372 62 67 270

 

Ivo Viires

Director of legal affairs

Leks Kindlustuse AS 

Tel. +372 62 67 270