TALLINN STOCK EXCHANGE

ANNOUNCEMENT

16.12.98

 

TSE LISTING COMMITTEE'S DECISION ABOUT RAKVERE LIHAKOMBINAAT

 

The TSE Listing Committee discussed on its 15.12.98 meeting the accordance of 

the disclosure of information by Rakvere Lihakombinaat with the provisions of the

TSE Rules and Regulations.

 

In the 30.11.98 stock exchange announcement, AS Rakvere Lihakombinaat informed the

public about a closed share issuance of Rigas Miesnieks, the subscription period of 

which started already on November 19. In accordance with the article 6.4.5 of the 

section "Requirements to Issuers" of the TSE Rules and Regulations, the Issuer is

obligated to disclose immediately the decision of the general meeting of Supervisory 

Board to increase the share capital. In accordance with the article 1.5.1 of the 

section "Requirements to Issuers" of the TSE Rules and Regulations, the Issuer is

obligated to disclose immediately the whole information, which according to the 

mentioned requirements is a subject for disclosure about the Issuer as well as 

about its significant subsidiaries. The subsidiary is considered to be significant 

in case its balance sheet volume, turnover, and profit or loss from the economic 

activities is equal to or greater than 10% of the consolidated balance sheet volume,

turnover, and profit or loss from the economic activities of the affiliated group.

 

The TSE Listing Committee found that the given situation can be treated as a 

violation of the section "Requirements to Issuers" of the TSE Rules and Regulations,

and decided to fine Rakvere Lihakombinaat in the amount of 25 000 EEK.

 

 

TSE