Andmed seisuga: 19.05.2024 00:32 (GMT+3)

Estiko: Acquisition of shareholding in subsidiary

23.02.1999, Estiko, TLN
AS ESTIKO
ANNOUNCEMENT
23.02.99

AS ESTIKO PURCHASED A HOLDING IN A STRATEGIC ENTERPRISE

AS Estiko purchased a 30% minority shareholding in AS Estiko-
Raamex (main field of activity: printing of wrapping materials);
after the transaction, Estiko group owns 100% of the respective
company. AS Estiko-Raamex is a subsidiary of AS Estiko-Plastar,
and it is considered to be a strategic production company of the
group. The volume of 1999 forecasted net sales of AS Estiko-
Raamex is 16.1 million EEK, and net profit 444 thousand EEK.

On February 18, AS Estiko sold 97% of the shares of its
subsidiary AS Remark (field of activity: catering and culinary),
i.e. all shares of this company held by AS Estiko. The sale of AS
Remark was a part of a reorganization process of the group, which
started in the beginning of 1998, and the purpose of which is to
simplify the structure of the group, as well as to sell the
companies which do not conform with the strategic development
plan of the group. AS Estiko confirms that the transactions were
not made with related persons, as determined in the Rules and
Regulations of the Tallinn Stock Exchange.

The changes in the companies of AS Estiko group are in accordance
with the reorganization plan of the structure of AS Estiko. In
addition to the above companies, AS Estiko sold at the end of the
last year its shareholdings in AS Hollender and Milleenia Valduse
AS.

According to the development plan, the primary fields of activity
of AS Estiko affiliated group are production of wrappers and
administration of the real estate objects related to that.


Ilona Leib
Information Manager of Group
Tel +372 747 3649

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