On 21st of August 2014 Tallinna Kaubamaja AS made a stock exchange release announcing the decision of the Latvian Competition Council, which imposed a fine on Tallinna Kaubamaja AS and its subsidiary KIA Auto AS in connection with an alleged violation of the Competition Law. Tallinna Kaubamaja AS and KIA Auto AS are convinced that the accusation is unfounded and there has occurred no breach of the Competition Law. On 15th of September 2014, Tallinna Kaubamaja AS and KIA Auto AS submitted complaints to the Administrative Regional Court of the Republic of Latvia, in which they ask the decision to be annulled in full. KIA Auto AS and Tallinna Kaubamaja AS will continue conducting their usual business activities and to inform the stock exchange as circumstances are specified, in accordance with the law and procedure laid down in the rules and regulations of the stock exchange.
Raul Puusepp
Chairman of the Board
Phone: +372 731 5000