On 06.10.2008, the management board of AS Silvano Fashion Group, acting under
the authorization granted by the general meeting of shareholders, decided to
initiate a share buyback program. The maximum amount to be invested in the
programme by AS Silvano Fashion Group is EUR 3 million Euros (46,9 million
Estonian kroons). The maximum number of shares to be purchased under the
programme is 4 million. The buyback period started on 07.10.2008 and will end
on 06.10.2009.
During the period from 07.10.2008 until 10.10.2008 the following buyback
transactions have been made:
Tallinn Stock Exchange
Share - SFGAT
Date Amount of shares Average price Cost in total
bought back per share
EUR EEK EUR EEK
07.10.2008 14,000 1.48 23.1570 20,720 324,198
08.10.2008 17,000 1.31 20.4970 22,270 348,450
09.10.2008 18,000 1.28 20.0276 23,040 360,498
10.10.2008 19,000 1.23 19.2453 23,370 365,661
Total for period 68,000 1.31 20.5707 89,400 1,398,807
Warsaw Stock Exchange
Share - SFG
Date Amount of shares Average price Cost in total
bought back per share
EUR PLN EUR PLN
07.10.2008 18,000 1.20 4.18 21,629 75,240
08.10.2008 19,000 1.15 3.99 21,793 75,810
09.10.2008 16,000 1.15 4.00 18,398 64,000
10.10.2008 17,000 1.15 4.00 19,548 68,000
Total for period 70,000 1.16 4.04 81,367 283,050
Accumulated total under the share buyback program since 07.10.2008:
Amount of shares Average price
bought back per share (EUR) Cost in total (EUR)
138,000 1.24 170,767
1 EUR=15,6466 EEK
After the transactions listed above, AS Silvano Fashion Group owns 138,000
of its own shares, which constitute 0,345% of the share capital.
Under the buyback program, shares up to the value of 2,829,233 million Euros
remain to be bought back. The maximum amount of shares that remains to be
bought back is 3,862,000.
The share buyback program is being implemented in accordance with the
Commission Regulation (EC) No 2273/2003 of 22.12.2003, implementing Directive
2003/6/EC of the European Parliament and of the Council as regards exemptions
for buy-back programmes and stabilisation of financial instruments. The
programme is managed by AS Hansapank, which will buy back shares on behalf of
AS Silvano Fashion Group. AS Hansapank carries out the buyback according to the
regulations and within the framework of the programme, and will make its
trading decisions independently of, and without influence by AS Silvano Fashion
Group with regard to the timing of the purchases.
Peeter Larin
Member of the management board
Silvano Fashion Group
Tel +372 67 10 700
E-mail: info@silvanofashion.com
www.silvanofashion.com