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On 3 September 2019, KJK Fund SICAV-SIF (the “Bidder”) launched a mandatory takeover offer (the “Offer”) to acquire the shares of Aktsiaselts BALTIKA (“Baltika”). The term of the Offer ended at 14:00 on 2 October 2019. The purchase price offered by the Bidder in the Offer was EUR 0.10 per share of Baltika (the “Purchase Price“).

On 4 October 2019 the Bidder published the results of the Offer by way of a market announcement on Nasdaq Tallinn stock exchange. In accordance with the said market announcement, shareholders of Baltika who accepted the Offer decided to sell to the Bidder in aggregate 20,509 shares of Baltika, which constitutes approximately 0.0379% of all the shares of Baltika.

Together with the shares of Baltika which the Bidder shall acquire as a result of the Offer, the Bidder will after the transfer of such shares to the Bidder hold in aggregate 48,526,500 shares of Baltika, which constitutes approximately 89.7318% of all the shares of Baltika.

Payment of the Purchase Price to the shareholders of Baltika who accepted the Offer and the transfer of the shares of Baltika to the Bidder will take place on 11 October 2019 (the “Value Date”), in accordance with the procedure laid out in the prospectus and offer notice of the Offer.

More detailed information on the results of the Offer can be found in the above referred market announcement by the Bidder.

Maigi Pärnik-Pernik
Member of the Management Board
maigi.parnik@baltikagroup.com