AS Kalev submitted on February 23rd, 2009 to NASDAQ OMX Tallinn Stock Exchange an application for delisting AS Kalev shares.
Management estimated that failure by Alta Capital Partners to execute food industry enterprise sales agreement concluded on 2007 to AS Kalev does not allow to execute business plans planned on fall 2007. Amongst other things AS Kalev does not see the opportunity to comply with freefloat requirement set by the rules of Tallinn Stock Exchange.
Resolution on satisfying or rejecting the delisting request will be made by Stock Exchange within three months as of submitting application of delisting request, by exception of the rules of Tallinn Stock Exchange resolution may also be made during six months.
Filed under: Stock exchange