Intra group transfer of AS Kristiine Kasiino and OÜ Casinova
Posted on 18.04.2007
The shares in KK and the share in Casinova will be transferred to OCE and OCE will pay the purchase price to OEG within three banking days.
The purpose of the transaction is to integrate the operations of KK and Casinova with the existing operations and structure of OEG Group. OCE is responsible for all the casino operations conducted in Estonia, and therefore the shares in KK and the sole share in Casinova are transferred namely to OCE. The transfer of the shares in KK and the sole share in Casinova is a preparatory step for the merger of OCE and KK.
The Transaction was concluded on the same main terms (including the same price) that were agreed upon with AS KC Grupp in the agreement entered into on March 1, 2007 whereunder OEG acquired 100% of the shares in KK and the sole share in Casinova. The main terms of the agreement entered into with AS KC Grupp are described in further detail in the stock exchange release of March 1, 2007.
The conclusion of the Transaction was approved beforehand by the Supervisory Boards of OEG and OCE.
The Transaction cannot be deemed as a transaction with a related party within the meaning of the Rules of Tallinn Stock Exchange, and the Members of the Management Board and Supervisory Board of OEG have also no other personal interest in concluding the Transaction.
The closing of the Transaction and the transfer of the shares in KK and the sole share in Casinova by OEG constitutes disposal of a qualifying holding within the meaning of the Rules of Tallinn Stock Exchange. The information to be published with regard to KK and Casinova pursuant to the Rules of Tallinn Stock Exchange has been published in the stock exchange release of OEG on March 1, 2007 regarding the acquisition of KK and Casinova by OEG. There have been no material changes in the published information while compared to the publication of this stock exchange release.
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