Financial Supervision Authority approved the compulsory take-over bid of AS Rubla for all shares of AS Kalev
The Financial Supervision Authority approved the take-over bid of AS Rubla for all shares of AS Kalev on 2 November 2007. AS Rubla and persons who act in co-operation with it (GKG Investeeringute AS, Mailtec OÜ Linderin Grupp, OÜ East Capital Baltikumfonden and Vipes Invest OÜ, own 13 947 367 shares of AS Kalev, which forms 59.02% of the share capital of AS Kalev.
Take-over bid information is available on the website of Tallinn Stock Exchange www.omxgroup.ee and also on the website of AS Kalev. The take-over bid prospectus is available on paper in the office of LFS Corporate Finance S.A. at 2 Tartu mnt, Tallinn.
The Financial Supervision Authority draws the minority shareholders' attention to Clause 2.5 of the take-over bid prospectus, which states that AS Rubla and East Capital Baltikumfonden, that is a person who acts in co-operation, have agreed that during the take-over bid AS Rubla acquires the shares belonging to East Capital Baltikumfonden.
The Financial Supervision Authority also considers it important to draw attention to Clause 2.8 of the prospectus and to the fact that the bid is partially financed by AS Rubla's own funds and partially by the loan of 25 million Euros borrowed from AS Hansapank. AS Rubla has agreed with Hansapank on the main terms of the loan and the loan agreement shall be signed on 16 November 2007, at the latest.