Tallinn, Estonia, 2014-04-16 16:00 CEST (GLOBE NEWSWIRE) --
Telescan AS announces that as a result of a meeting of Telescan AS shareholders held on 9th of January not being registered with the Estonian Commercial Register until 7th of March 2014, a formal approval of the company’s planned increase in share capital was unable to take place until after another EGM meeting had been held on the 12th of March 2014. At this subsequent meeting on 12th of March the earlier envisaged share increase of 12th February was amended because the Estonian Commercial Code requires one decision to be filed with the Commercial Register before the shareholders can decide upon a new share capital increase.
Accordingly an EGM was held on the 12th of March 2014 at which approval was granted for the issue of ten thousand (10 000) new ordinary voting shares at an increased premium price of 3 euros per share. These new shares have been fully paid up and were registered with the Commercial Register on 3rd of April. An application has now been made for them to be admitted to trading on the First North marketplace of the NASDAQ-OMX Tallinn Stock Exchange.
Former relevant capital increase announcement can be found here: https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=594039&messageId=735095
Michael Chambers
Chief Operating Officer
Telescan AS
+44 79 6404 8080
mc@tele-scan.com