Nasdaq Tallinn: Announcement regarding the results of the takeover offer with respect to the shares of AS BALTIKA

Tallinn, Estonia, 2019-10-04 08:00 CEST --



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"), on the terms and conditions brought out in the prospectus and
offer notice of the Offer (jointly the "Offer Documents"). 

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"). 

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. 

In the course of the Offer, the 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. 

Prior to the publication of the Offer Documents, the Bidder held in aggregate
48,505,991 shares of Baltika, which constitutes approximately 89,6939% of all
the shares of Baltika. As the Bidder has not acquired any more shares of
Baltika after the publication of the Offer Documents, as at the end of the day
preceding this the market announcement, the Bidder also held 48,505,991 shares
of Baltika, which constitutes approximately 89,6939% 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 

Baltika has issued only one class of shares and in accordance with the articles
of association of Baltika, each share of Baltika grants its holder one vote at
the general meeting of shareholders of Baltika. Together with the shares of
Baltika which the Bidder shall acquire as a result of the Offer, the Bidder
shall therefore hold approximately 89,7318% of the votes at the general meeting
of shareholders of Baltika.