Olympic Entertainment Group
Bankruptcy petition of OEG`s Ukrainian subsidiaries
Olympic Entertainment Group / Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- On July 9th OEG initiated the liquidation process of subsidiaries Olympic Casino Ukraine TOV, Ukraine Leisure Company and Eldorado Leisure Company due to “Ukrainian gaming activities suspension” law, which was issued by Ukrainian parliament on May 15th and entered in force since the moment of publication on June 25th. The law cancelled all licenses issued to casino operators and terminated all casino activities in Ukraine for unknown time period. Today, on August 12th, OEG`s Ukrainian subsidiaries Olympic Casino Ukraine TOV, Ukraine Leisure Company and Eldorado Leisure Company submitted the bankruptcy petition as the following step of the liquidation process. OEG is planning to demand investments compensation from the Ukrainian state basing on investments propitiation and mutual protection agreement signed between Estonian and Ukrainian governments. Additional information: Andri Avila CEO Olympic Entertainment Group Tel + 372 667 1250 E-post andri.avila@oc.eu http://www.olympic-casino.com News Source: NASDAQ OMX 12.08.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Olympic Entertainment Group Estonia Phone: Fax: E-mail: Internet: ISIN: EE3100084021 WKN: End of News DGAP News-Service ---------------------------------------------------------------------------
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