AS  KLEMENTI

ANNOUNCEMENT

26.03.99

 

RESOLUTIONS OF THE ANNUAL GENERAL MEETING OF AS KLEMENTI SHAREHOLDERS 

 

The annual general meeting of AS Klementi shareholders, convened on 

March 26, 1999, decided to approve the 1998 consolidated annual report 

of AS Klementi, with the balance sheet volume of 83 133 090 EEK, and 

annual net profit of 1 609 232 EEK, and the auditor’s report about the 

1998 financial report.

 

The shareholders decided that until the next annual meeting, the 

company’s official press releases will be published in daily newspapers 

"Päevaleht" and "Postimees".

 

The Management Board’s proposal about the 1998 profit distribution was 

approved:

To transfer 1/20 of the amount of gross profit, i.e. 80 424 EEK, to the 

account of reserve capital, and 1 528 095 EEK to the account of 

retained earnings. Thus, the shareholders will receive no dividend 

payments.

 

The 1999 financial reports will be audited by Marek Sukk of AS KPMG 

Estonia auditor.

 

 

Madis  Võõras

Chairman of the Management Board

Tel: +372 671 0701