Financial Supervision Authority registers Olympic Entertainment Group's public offering prospectus
On 29 September 2006, the Financial Supervision Authority registered the prospectus of a public securities offering by Olympic Entertainment Group AS (registration code 10592898).
Olympic Entertainment Group AS (Olympic) has filed an application to the Tallinn Stock Exchange for admission of its shares to trading on the stock exchange. A listing application does not guarantee admission of the company's shares to trading.
Here, the Financial Supervision Authority points out that shares offered by Olympic will comprise about 20.4% of the company's share capital after the offering is completed. This will be the case provided that the over-allotment option is fully used and the number of shares offered does not change. Thus Olympic will remain under the dominant influence of OÜ HansaAssets also after the public offering and OÜ HansaAssets in its turn is 100% in the ownership and under the dominant influence of Armin Karu, Chairman of the Management Board of Olympic. After completing the offering and provided that the over-allotment option is fully used, OÜ HansaAssets will own about 51.7% of the company's shares. OÜ Hendaya Invest, which is 100% in the ownership and under the dominant influence of Jaan Korpusov, Member of the Supervisory Board of Olympic, will also remain a major shareholder owning about 27.8% of all shares.
These shareholders, whose participation in Olympic constitutes all in all about 80%, can take most decisions concerning the company that are in the competence of the general meeting of the company's shareholders, or block such decisions.