REVAL HOTELLIGRUPP

ANNOUNCEMENT



LINSTOW INTERNATIONAL AS BUYS MAJORITY IN REVAL HOTELLIGRUPP



Linstow International AS, a subsidiary of Linstow AS, one of 

the leading real estate development companies in Scandinavia 

and the Baltics, and the Baltic Republics Fund have signed 

contract, according to which Linstow International AS will 

buy the Baltic Republic Fund's stake in Reval Hotelligrupi AS,

thus giving them a majority shareholding in Reval Hotelligrupi AS. 



According to the contract, which was signed on August 7, 2000, 

Linstow International AS has acquired from Baltic Republics Fund 

2,322,752 shares or a 44.12% stake in Reval Hotelligrupi AS. 

The price of the transaction was EEK 74 per share. Linstow 

International AS held formerly 439,868 shares or an 8.35% stake 

in Reval Hotelligrupi AS giving it a post-acquisition share of 

52.47% in Reval Hotelligrupi AS.  



As Reval is a listed company, Linstow International AS intends to 

make, subject to the approval by the Tallinn Stock Exchange, an 

offering to all small shareholders on equal terms in accordance 

with the take-over rules of the Tallinn Stock Exchange at a price 

of EEK 74 per share. As the goal of the offering is to achieve a 

shareholding to delist the company, Reval Hotelligrupi AS will 

apply the Tallinn Stock Exchange for the delisting of Reval shares.  





Additional information:

Egil Bauer-Nilsen

Linstow International AS

Managing Director

+47 23 11 96 00



Tarmo Sumberg

Reval Hotelligrupi AS

Chairman of the Supervisory Board

+372 62 74 444



Jason Grenfell-Gardner

Trigon Capital AS

Partner

+372 66 79 200





Tarmo Sumberg

Chairman of the Board

Tel +372 62 74 444