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30.05.2008 11:24:00
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Comment on the sales transaction of AS Kalev's subsidiaries
Teade
AS Kalev would like to state that the comment made by Indrek Rahumaa on the sales transaction has been misinterpreted in the article entitled "Rahumaa withdraws from Kalev and Tere purchase" published in today's issue of Eesti Päevaleht. The conclusion indicated in the headline cannot be drawn from the article. The buyer has not informed AS Kalev of any intent to withdraw from the contract of sale of the shares of AS Kalev's subsidiaries AS Kalev Chocolate Factory, AS Kalev Jõhvi Tootmine, AS Kalev Paide Tootmine, AS Valmetek Invest, AS Vilma and OÜ Maiasmokk, concluded on 20 September 2007. All terms and conditions of the contract of sale, as published by AS Kalev through the stock exchange information system (see also AS Kalev's press releases "Kalev to transfer shares" and "Resolutions of ordinary general shareholder's meeting" from 20.09.2007, "Date of completion of the share sales transaction" from 29.02.2008 and "Share sales transaction completion procedures" from 31.03.2008) are currently in effect. By way of a comment on the media speculations, AS Kalev hereby states that the company has no intention of changing the purchase price indicated in the memorandum of completion of the transaction signed by the contractual parties on 31.03.2008. Should the buyer initiate negotiations with AS Kalev regarding amendment of the established terms and conditions (the likelihood of which has been indicated by the buyer's representative Indrek Rahumaa), AS Kalev will publish the related information through the stock exchange information system. Allan Viirma Head of Legal Service 688 6616