The extraordinary general meeting of shareholders of AS Silvano Fashion Group
(hereinafter SFG) was held today, on 6 October 2008, at Akadeemia tee 33,
Tallinn (hereinafter „Meeting“).
The meeting started at 12.00 and ended at 13.05. The shares of the shareholders
who attended the meeting represented 20,748,536 votes, constituting 51,87% of
the share capital. Therefore, the Meeting was competent to pass resolutions
regarding the items on the agenda of the Meeting. The agenda of the Meeting
consisted of the items indicated in the notice of the extraordinary general
meeting of shareholders as published in the newspaper „Eesti Päevaleht“ on 27
September 2008, on the webpage of SFG at www.silvanofashion.com and via the
information system of the stock exchange.
The following resolution was passed at the Meeting:
To authorise the buyback of SFG's own shares under the following conditions:
1. SFG is entitled to to buy back its own shares within one year as of the
resolution of the general meeting of the shareholders;
2. The total nominal value of own shares to be bought back by SFG may not
exceed 10% of total share capital of SFG;
3. The maximum price payable by SFG for one share will be EUR 3.50
(three Euros and fifty cents);
4. The maximum amount payable by SFG for its own shares is EUR 3,000,000
(three million Euros).
5. Own shares will be paid for with assets exceeding the share capital,
compulsory reserves and share premium.
Tabulation of votes:
In favor: 20,748,536 votes 100% of the votes represented at the Meeting
Against: 0 votes 0% of the votes represented at the Meeting
Impartial: 0 votes 0% of the votes represented at the Meeting
Did not vote: 0 votes 0% of the votes represented at the Meeting
Invalid: 0 votes 0% of the votes represented at the Meeting
The resolutions were passed at the Meeting following the procedure for passing
of resolutions set forth in laws and in the Articles of Association of SFG.
Additional information:
Peeter Larin
Member of the management board
Silvano Fashion Group
Tel +372 67 10 700
E-mail: info@silvanofashion.com
www.silvanofashion.com