With April 10, 2015 court decision the District Court of Tallinn Civil Chamber satisfied partially Clearstream Banking S.A. appeal. Court concluded that AS Baltika shareholders’ decision on April 10, 2012 under agenda item 4 shall be partially declared invalid regarding issuance of H-Bonds and exclusion of pre-emptive rights of shareholders. Court did not establish such substantial interest, which would allow targeted issuance to one shareholder. Court rejected plaintiff claim regarding declaring issuance of 2,350,000 I-Bonds to Group management invalid. AS Baltika is going to file an appeal in cassation.
Triinu Tarkin
Financial Manager
triinu.tarkin@baltikagroup.com