Key Developments: Ekspress Grupp AS (EEG1T.TL)

EEG1T.TL on Tallin Stock Exchange

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21 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Ekspress Grupp AS announces external auditors for FYs 2014 & 2016 correction
Friday, 20 Jun 2014 09:11am EDT 

Ekspress Grupp AS:Announces that in the resolutions of the annual general meeting of shareholders of Ekspress Grupp AS published earlier there was a mistake in item 6. Appointment of the Auditor and establishment of the procedure of payment.Says to appoint the audit firm AS Deloitte Audit Eesti to perform the audit of the company for the financial years Jan.1, 2014 - Dec. 31, 2016.  Full Article

Ekspress Grupp AS announces dividend payment date for FY 2013, appoints external auditors for FYs 2014 & 2016
Friday, 20 Jun 2014 06:37am EDT 

Ekspress Grupp AS:Announces that the cash dividends of 0.01 euros per share for the fiscal year 2013 will be paid on Oct. 2 to shareholders of record date on July 9.Announces the appointment of PricewaterhouseCoopers AS as the company's external auditors for the fiscal years Jan. 1, 2014 - Dec. 31, 2016.  Full Article

Ekspress Grupp AS updates on proceedings with Eesti Meedia AS
Friday, 6 Jun 2014 11:34am EDT 

Ekspress Grupp AS:Says that according to the ruling, the court decided to drop AS Eesti Meedia’s claim of action to require AS Ekspress Grupp to pay 1,743,000 euros for the shares of AS Express Post and terminated the proceedings regarding the claim.Regarding the matter of the redemption prices of AS Ajakirjade Kirjastus and AS Ohtuleht, the court ruled AS Ekspress Grupp to pay in favour of AS Eesti Meedia besides to previously paid 2.7 million euros an additional 632,000 euros.However, the court ruled AS Eesti Meedia to pay in favour of AS Ekspress Grupp 68,232 euros to compensate procedure expenses.  Full Article

Ekspress Grupp AS proposes FY 2013 dividend payment
Tuesday, 27 May 2014 06:45am EDT 

Ekspress Grupp AS:Proposes the 2013 profit distribution.The legal reserve will be increased by 54,000 euros from the 2013 net profit, which is 1,081,000 euros, dividends will be paid to the shareholders 0.01 euros per share and 729,000 euros will be allocated to the retained earnings of the previous periods.  Full Article

Ekspress Grupp AS sells 50 percent stakes in joint ventures
Monday, 26 May 2014 08:20am EDT 

Ekspress Grupp AS:Says that it has further transferred 50 percent participation in AS Ajakirjade Kirjastus and AS SL Ohtuleht, acquired from AS Eesti Meedia, to OU Suits Meedia.Ekspress Group AS will maintain its earlier 50 percent participation in the aforementioned public limited companies.  Full Article

Ekspress Grupp AS to merge subsidiaries in Lithuania
Thursday, 10 Apr 2014 08:07am EDT 

Ekspress Grupp AS:Announces that it will merge two subsidiaries, UAB Delfi and UAB Ekspress Leidyba.Says prior to the merger, Ekspress Grupp AS sells the shares of UAB Ekspress Leidyba to SIA Delfi Holding, which also holds the shares of UAB Delfi.Says that after the merger, UAB Ekspress Leidyba will be erased from the register.Says the transaction can’t be treated as a transaction with a related party and the members of the supervisory and management board do not have any personal interest in the transaction.  Full Article

Ekspress Grupp AS files objections and counterclaim to Court of Arbitration as response to claim by Eesti Meedia
Monday, 17 Mar 2014 04:31am EDT 

Ekspress Grupp AS:Says it has communicated to the Court of Arbitration of the Estonian Chamber of Commerce of Industry its objections, with respect to the claim, filed with the Court by Eesti Meedia, and also submitted a counterclaim.In its objections and counterclaim, Ekspress Grupp gave the Court its proofs and reasons to evidence its position.States that AS Eesti Meedia has breached the shareholders’ contracts, concluded between the parties, hence making it impossible for AS Ekspress Grupp to exercise its right for redemption of joint ventures, provided by the aforementioned contracts.Asks the Court for assistance in enforcing the contracts between the parties.In its claim, Ekspress Grupp also asked the Court to adopt a ruling that would claim AS Eesti Meedia to pay a contractual penalty and fines for delays in total sum of 3.55 million euros.Ekspress Grupp also hereby announces that due to the confidentiality of the arbitration proceedings the company will not disclose any additional information on this subject until the Court has passed its ruling on this matter.  Full Article

Ekspress Grupp AS to terminate its activity in Ukraine
Friday, 21 Feb 2014 09:32am EST 

Ekspress Grupp AS:Announces that it has decided to terminate Delfi’s activity in Ukraine from March 1.Says that during a six year-period, Ekspress Grupp AS has invested approx. 2 million euro in the development of Delfi Ukraine but this has not brought the expected success in online portals market.Says the Group does not see a positive outlook for the future development of Delfi Ukraine, which would justify continuing the business and therefore has decided to stop its activity in Ukraine.Says that currently, negotiations with the management of the company are being held, as the management has expressed its willingness to continue the activities of the portal and use Delfi’s trademark.Says that the termination of the activity in Ukraine will involve compensation to employees and premature termination of the contracts in total sum of approx. 30,000 euro.  Full Article

Ekspress Grupp AS announces Court of Arbitration proceeds with Eesti Meedia AS action
Wednesday, 29 Jan 2014 03:56am EST 

Ekspress Grupp AS:Says that the board of the Court of Arbitration of the Estonian Chamber of Commerce and Industry has decided to proceed with the Eesti Meedia AS action filed against the company.Says Eesti Meedia SA requires AS Ekspress Grupp to pay 8,590,140 euros based on AS SL Ohtuleht, AS Ajakirjade Kirjastus and AS Express Post shareholders agreements between the parties.  Full Article

Ekspress Grupp AS to file lawsuit against Eesti Meedia AS concerning shares acquisition and withdrew from buyout
Friday, 13 Dec 2013 07:19am EST 

Ekspress Grupp AS:Says that as Eesti Meedia AS has breached the shareholders agreements between the parties and hence hindered the company from acquiring the shares of parties' joint venture companies, it shall recourse to court to protect its rights.Says that it also withdrew from the buyout of shares of AS Express Post, the joint venture of the parties, for the same reason.Says that in the lawsuit that will be submitted to the arbitration, it requires among other things contractual penalties for breaching the agreements in the sum of at least 3,500,000 euros from Eesti Meedia AS.Says that together with the notice, Ekspress Grupp AS presented Eesti Meedia AS another proposal to solve the disagreements outside the court.  Full Article

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