Market announcement
Olympic Entertainment Group AS
LEI code
097900BHBZ0000064366
General information
Categories
Other price sensitive information
Unique data record identifier
3309
Submission date and time
02.05.2011 11:55:37
Content of announcement in Estonian
Title
OEG: Olympic Entertainment Group muutused struktuuris
Message
Olympic Entertainment Group muutused struktuurisOlympic Entertainment Group AS sõlmis 30. aprillil 2011 aktsiate müügilepingu, millega müüakse osalused kõigis kolmes Rumeenia tütarettevõtjas Olympic Casino Bucharest S.R.L, Muntenia Food and Beverage S.R.L. ja Olympic Exchange S.R.L. Iisraeli eraettevõtjale. Tehingu hind on 0,5 miljonit eurot ning OEG käesoleva aasta esimese kvartali majandustulemustes kajastatakse Rumeenia operatsioonide lõpetamisest saadav erakorraline kahjum summas 2,5 miljonit eurot. Olympic Entertainment Group sisenes Rumeenia turule 2007. aasta II kvartalis. Olympic Entertainment Group nõukogu otsustas Rumeenia ärisegmendist väljuda, kuna senise tegevuse vältel seal kasumisse ei jõutud ning lähiaastatel ei nähtud ka võimalust jõuda kasumlikkuse poolest võrreldavale tasemele teiste ärisegmentidega. Tehing ei ole käsitletav tehinguna seotud isikute vahel ning nõukogu ja juhatuse liikmed ei ole tehingust muul viisil isiklikult huvitatud. Osaluste võõrandamine mõjutab Olympic Entertainment Group'i tegevust positiivselt, kuivõrd viimastel aastatel on Rumeenia ärisegment tegutsenud kahjumlikult. Lisainfo: Madis Jääger CFO, juhatuse liige Olympic Entertainment Group AS Tel + 372 667 1250 E-post [email protected] http://www.olympic-casino.com
Content of announcement in English
Title
OEG: Changes in Olympic Entertainment Group structure
Message
Changes in Olympic Entertainment Group structureOlympic Entertainment Group AS signed share purchase agreement on 30 April 2011 with an Israeli entrepreneur for selling all the shares in Romanian subsidiaries Olympic Casino Bucharest S.R.L, Muntenia Food and Beverage S.R.L. and Olympic Exchange S.R.L. The total consideration to be received is 0.5 million euros and the loss from the sale of Romanian subsidiaries will be recognised in the first quarter of the current financial year in the amount of 2.5 million euros. Olympic Entertainment Group entered the Romanian market in the second quarter of 2007. The Supervisory Board decided to exit the Romanian market as no profits have been made so far and as in near future there were no alternatives to reach the level of profitability compared to the other business segments. The transaction is not to be treated as a transaction with related persons and the members of Olympic Entertainment Group Management Board and Supervisory Board bear no interested in the transaction in any other way. The transfer of the holdings affects the activities of Olympic Entertainment Group positively as during the past years Romanian business segment has incurred losses. Additional information: Madis Jääger CFO, member of the Board Olympic Entertainment Group Ph: + 372 667 1250 E-mail: [email protected] http://www.olympic-casino.com