Nasdaq Tallinn: Observation status of AS Baltika supplemented with additional reason

Tallinn, Estonia, 2020-03-27 10:25 CET --


Nasdaq Tallinn decided on March 27, 2020 to apply an additional reason for
applied observation status to AS Baltika shares (BLT1T, ISIN code:
EE3100145616) based on the clause 3.5.4.2 of chapter Supervision of the rules
and regulations (Supervision Rules). 

Based on sub-sections of the clause 3.5. of the Supervision Rules of Nasdaq
Tallinn, the exchange has right to add an observation status to a share and to
the trading information displayed on the web site to draw the market
participants' attention to significant circumstances related to a security or
an issuer. 

According to Supervision Rules clause 3.5.4.2 the observation status can be
added in the case of admittance by the issuer to its insolvency or permanent
solvency problems of the issuer. 

On 27.03.2019 AS Baltica announced that Baltika Group is having solvency
problems, which according to Baltika are temporary by them nature. In order to
overcome the above mentioned difficulties, Baltika has applied for the
commencement of reorganisation proceedings. Baltika is in the opinion that as a
result of the reorganisation proceedings and the measures taken in these
proceedings, Baltika will be able to overcome its economic difficulties and
restore its liquidity, improve profitability and ensure its sustainable
management. The court has set a date to present the reorganisation plan to the
court for approval by June 1, 2020. 



The observation status to AS Baltika shares is applied as of March 21, 2019
based on the clause 3.5.4.8 of chapter Supervision of the rules and regulations
(Supervision Rules). 



Nasdaq Baltic
Issuer Services
[phone]
www.nasdaqbaltic.com



Nasdaq Baltic is a common name for exchanges, regulated markets, alternative
markets First North operated by Nasdaq companies in the Baltic states, i.e.
Nasdaq Tallinn AS, Nasdaq Riga AS and AB Nasdaq Vilnius.