EMV

ANNOUNCEMENT

 

RESULTS OF TAKE-OVER OFFERING MADE BY SKANSKA OY

 

As of 07.02.2000 Skanska OY holds total of 4,671,086 shares in AS 

EMV, which accounts for 98.5% of AS EMV capital stock. Number of 

EMV shareholders has dropped from 400 to 72. 

 

As EMV does not meet the requirements provided in articles 4.5.1. 

and 6.5. of chapter "Requirements for Issuers" of the Tallinn Stock 

Exchange Rules and Regulations which stipulate that at least 25% of 

the company's outstanding shares must be held publicly, and the 

company must have at least 100 shareholders, the Management Board 

of AS EMV submitted on 04.02.2000 an application to the Tallinn 

Stock Exchange Listing Committee for delisting AS EMV shares from 

the Secondary List.

 

15 of EMV small shareholders (51,800 shares) have acquired their 

holdings in EMV as former employees; most of them have not been 

able to conduct the transaction due to problems with 

authorisations, inheritance questions or other similar reasons, or 

have not received the proposal for disposal of holding in EMV due 

to change of address. 15 current small investors hold less than 25 

shares in the company.

 

Aiming to ensure equal treatment for all minority shareholders also 

after delisting the company from the Tallinn Stock Exchange, 

Skanska OY will extend the offering to the remaining 1.5% shares in 

AS EMV until 30.06.2000. Skanska OY has authorised AS Trigon 

Securities to buy all remaining shares at price of EEK 30 per 

share, aiming to provide all shareholders the opportunity to 

dispose their holding in EMV. 

 

 

Marko Kaha

Financial Director

+372 64 03 300