Tallinn, Estonia, 2013-02-15 10:30 CET (GLOBE NEWSWIRE) --  

On February 14, 2013 the Listing and Surveillance Committee of NASDAQ OMX Tallinn decided to give a warning to AS Ekspress Grupp for violation of NASDAQ OMX Tallinn rules and regulations chapter Requirements for Issuers (hereinafter RI) clauses 1.2.1, 7.11.1 and 2.4.1.

Background:

According to RI clause 1.2.1 the Issuer is obliged to secure disclosure of information stated in RI in such a form and within such time limits as specified in RI.

According to RI clause 7.11.1 an Issuer shall forthwith disclose a resolution on the partial or full acquisition of a holding in a company.

According to RI clause 7.11.2 the disclosed notice on a resolution to a holding shall contain at least the following information: the business name, area of operation and a description of the business of the company in which a holding will be acquired; the size of the holding to be acquired and its percentage in the share capital of the company to be acquired; the purpose of the acquisition and its effect on the Issuer’s operations; information on whether the transaction can be treated as a transaction with connected persons within the meaning of these Requirements and whether any members of the Issuer’s supervisory board and management board are otherwise personally interested in the transaction, and a description of the personal interest, if any; if the notice of acquisition of a holding includes a forecast of the effect of the transaction on the Issuer’s business in the following accounting periods, the notice shall contain a description of the assumptions and circumstances on which such forecast is based.

According to RI clause 2.4.1 information is deemed disclosed when it is made public as a notice through the Exchange Information System.

On December 14, 2012 AS Ekspress Grupp published announcement via the exchange´s information system, stating that AS Delfi (the acquiring company) and Saarmann Meedia OÜ (the merged company) management boards signed a merger agreement on December 14, 2012. The acquiring company continues with the business name AS Delfi, as Saarmann Meedia OÜ was acquired by AS Delfi on March 4, 2011.

AS Ekspress Grupp has not published announcement on the acquisition of Saarmann Media OÜ.

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