Tallinn, Estonia, 2011-07-20 17:56 CEST (GLOBE NEWSWIRE) --
I
Pioneer Pekao Investment Management SA (PPIM), notified the management board of AS Silvano Fashion Group (SFG) of the decrease of its votes in SFG to 11,10 %. The latter percentage represents the share resulting from total holdings in all portfolios belonging to PPIM Clients which are managed by PPIM. All PPIM clients hold a total of 4 383 390 shares of SFG, representing 11,10 % of the share capital of SFG and the votes entitled to vote at the general meeting. Before the transaction, PPIM Clients held 4 411 131 shares. The decrease was a result of the sale of 27 741 shares on June 30.
II
In addition PPIM as a management company of several Polish open-end funds, notified the management board of SFG of the decrease of the votes of the investment funds established by Pioneer Pekao Investment Fund Company in SFG to 10.52 %. The different funds managed by PPIM hold altogether 4 165 637 shares in SFG, constituting 10.52 % of the share capital of SFG and the votes entitled to vote at the general meeting. Before the transaction, the funds held a total of 4 245 637 shares in SFG.
III
The aforementioned decrease in item II resulted in the reduction of the holding of Pioneer Open-End Investment Fund (Pioneer FIO) in SFG to 9.98 %. After the transaction, Pioneer FIO holds a total of 3 952 730 shares. Before the transaction, Pioneer FIO held a total of 4 032 730 shares. The decrease was a result of the sale of 80 000 shares on June 28.
Märt Meerits
Member of the board
+372 6845 000
info@silvanofashion.com