HEX has bought 298 existing shares from current shareholders as well as subscribed for 100 newly issued shares at a price of EEK 45,000 (~2,875 EUR) per each TSE share. After the issue, TSE has 760 shares outstanding with a nominal value of EEK 10,000.
Required regulatory approvals from the Ministry of Finance and the Competition Board in Estonia have been received.
The Ministry of Finance has decided to sell its holding of 34 shares in a tender offer and is currently in the process of finalising the deal with HEX. After their transaction, the amount of shares held by HEX will rise to 432 shares or close to 57% of total number of outstanding shares.
The Central Bank of Estonia has agreed to reduce its stake in TSE and that agreement should also be concluded shortly.
New supervisory board of TSE will be elected and amended Articles of
Association will be approved at the extraordinary shareholders' meeting of
TSE, due in the coming weeks.
