Announcements

Reduction of share capital was entered in the Commercial Register

Posted on 27.07.2012

At 27 July 2012, the reduction of share capital of Olympic Entertainment Group AS on the basis adopted by resolution of the General Meeting of Shareholders held at 19 April 2012 was entered in the Commercial Register.

According to the resolutions of the General Meeting of Shareholders held on 19 April 2012 it was decided to reduce the share capital of the Company altogether by EUR 21,186,130.70 from EUR 81,717,932.70 to EUR 60,531,802. The share capital is reduced by reducing the book value of the shares from EUR 0.54 to EUR 0.40, whereas the number of the shares remains the same (i.e. 151,329,505). The reduction of share capital in the amount of EUR 15,132,950.50 (EUR 0.10 per share) shall be paid to the shareholders on 29 October 2012. Upon reducing the share capital, EUR 6,053,180.20 shall not be paid to the shareholders but shall be used to cover the accumulated losses.

The list of shareholders, who were entitled to receive the payment related to reduction of the book value of shares was closed on 4 May 2012 at 23:59.

For further information, please contact:

Madis Jääger
CEO
Olympic Entertainment Group AS
Tel + 372 667 1250
E-mail madis.jaager@oc.eu
http://www.olympic-casino.com

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