TALLINN STOCK EXCHANGE

ANNOUNCEMENT

20.04.99

 

TALLINN STOCK EXCHANGE LISTING COMMITTEE’S DECISION ABOUT HANSAPANK 

 

TSE Listing Committee discussed on its 20.04.1999 meeting the possible 

violation of the provisions of the TSE Rules and Regulations by AS 

Hansapank.

 

The 15.12.99 extraordinary general meeting of AS Hansapank resolved to 

increase the bank’s share capital via directed issue of 5 219 984 

shares. The beginning date of subscription period was set on 16.12.98. 

The application for supplementary share issue was submitted to the 

Exchange on 26.12.99, i.e. 41 days after the beginning date of 

subscription period.

 

Pursuant to article 4.8.1 of section “Listing Requirements” of the TSE 

Rules and Regulations, all similar shares of the Issuer must be listed 

on the Exchange, whereas the application for listing the shares must be 

submitted to the Exchange not later than 9 stock exchange days prior to 

the beginning date of the subscription period of the shares.

 

The TSE Listing Committee found that the present situation can be 

treated as a violation of section “Listing Requirements” of the TSE 

Rules and Regulations, and thus decided to fine AS Hansapank in the 

amount of 5000 EEK. 

 

 

TSE