Baltika
Reorganisation of AS Baltika subsidiaries in year 2013
DGAP-News: Baltika / 11.07.2014 / 10:48 --------------------------------------------------------------------- Listing and Surveillance Committee of NASDAQ OMX Tallinn concluded with July 9, 2014 decision that information disclosed by AS Baltika regarding reorganisation of Baltika Group entities in Russia and Ukraine in year 2013 was not in full compliance with Stock Exchange rules and regulations chapter Requirements for Issuers clause 7.11. Current notification includes the additional information. To minimize administrative burden in Russia Baltika Group retail subsidiary OOO 'Kompania 'Baltman Rus' was reorganised. OOO 'Kompania 'Baltman Rus' business was transferred to the company OOO 'Olivia'. 100% shares of OOO 'Kompania 'Baltman Rus' were sold on 23 August 2013. The sale of Baltika Group Russian entity that had become dormant is not a significant transfer. As the business activity continued in company OOO 'Olivia' in the same volume after the reorganisation, transaction had no significant effect to Group assets or results. AS Baltika confirms that the above-mentioned transaction does not constitute a transaction with a related party and the members of the Supervisory and Management Board of AS Baltika do not have any other personal interest in the transaction. Due to change in laws in Ukraine Baltika Group had to reorganise its activities on Ukrainian market. 'Baltika Retail Ukraina' Ltd was formed on 3 September 2013 by splitting the already existing company 'Baltika Ukraina' Ltd. Ukrainian market business continued in existing new company 'Baltika Retail Ukraina' Ltd and on 18 December 2013 100% shares in 'Baltika Ukraina' Ltd were sold. The transaction was not significant for Baltika Group as the entity sold had no retail activity or assets and liabilities at the moment of transaction. As the business activity continued in 'Baltika Retail Ukraina' Ltd in the same volume after the reorganisation, transaction had no significant effect to Group assets or results. As Baltika confirms that the above-mentioned transaction does not constitute a transaction with a related party and the members of the Supervisory and Management Board of AS Baltika do not have any other personal interest in the transaction. Maigi Pärnik Member of the Management Board maigi.parnik@baltikagroup.com News Source: NASDAQ OMX End of Corporate News --------------------------------------------------------------------- 11.07.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Baltika Estonia ISIN: EE3100003609 End of News DGAP News-Service --------------------------------------------------------------------- 277589 11.07.2014
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