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Notice of convening the Extraordinary General Meeting of shareholders, Agenda and Proposals

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Tallinn, 2014-10-16 15:01 CEST (GLOBE NEWSWIRE) --


<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">The Management Board of AS Silvano Fashion Group, registry code
10175491, registered address Tulika 15/17, 10613 Tallinn, (hereinafter “SFG”)
convenes an Extraordinary General Meeting  (hereinafter: “EGM”) of shareholders
on 7th of November 2014 at 12:00 noon (Estonian time) in Radisson Blu Hotel
Olümpia conference hall “Epsilon”, address Liivalaia 33, 10118 Tallinn,
Estonia.</span></span> 

<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">The registration of participants of the Extraordinary General
Meeting starts at 11:30 a.m. (Estonian time).</span></span> 

<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">I        Agenda</span></span> 

<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">The agenda of the EGM is the following:</span></span> 

<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">1.     The amendment of the profit distribution decision approved
by the Annual General Meeting held on 30th of June 2014 and additional
distribution of profit of AS Silvano Fashion Group</span></span> 

<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">II       Proposals of the Management Board and the Supervisory
Board</span></span> 

<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">The Supervisory Board of SFG has approved the agenda of the EGM as
proposed by the Management Board. The Management Board and the Supervisory
Board make the following proposals to the shareholders with regard to the
agenda:</span></span> 

<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">1.     The amendment of the profit distribution decision approved
by the Annual General Meeting held on 30th of June 2014 and additional
distribution of profit of AS Silvano Fashion Group</span></span> 

<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Proposal of the Management Board and the Supervisory
Board:</span></span> 

<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">1.1. To distribute the profit by paying dividends to the
shareholders from the profit of the company based on the approved annual report
of 2013 as follows: 
1.1.1.     The list of shareholders of AS Silvano Fashion Group entitled to
profit distribution shall be fixed on 21<sup style="font-family: 'courier new',
courier, monospace;">st of November 2014 at 11:59 p.m; 
1.1.2.     EUR 0.20 per share shall be payable to the entitled shareholders as
a dividend at the latest on 24<sup style="font-family: 'courier new', courier,
monospace;">th of November 2014. </span></span> 

<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">III     Organizational questions</span></span> 

<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">The list of the shareholders entitled to participate in the EGM
shall be fixed 7 days prior to the date of the meeting, i.e. on 31 October 2014
at 11:59 p.m. (Estonian time).</span></span> 

<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">At the EGM, a shareholder is entitled to receive information from
the Management Board about the activities of SFG. The Management Board may
decide to withhold information if there is a reason to believe that the
disclosure of information may cause significant damage to the interests of SFG.
If the Management Board refuses to disclose information, the shareholder may
demand from the EGM to adopt a resolution regarding to the lawfulness of the
information request or file a petition to a court of law within two weeks of
the EGM requesting the court for the ruling requiring the Management Board to
disclose the information.</span></span> 

<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">The shareholders whose shares represent at least 1/20 of the share
capital may request for additional items to be included in the agenda of the
EGM, if the respective request is submitted in writing at least 15 days prior
to the EGM.</span></span> 

<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">The shareholders whose shares represent at least 1/20 of the share
capital may present their draft resolutions to each item in the agenda in
writing no later than 3 days before the EGM.</span></span> 

<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Draft resolution regarding to the agenda items and other documents
presented to the EGM (including annual report, report of the sworn auditor,
profit distribution proposal and report of the Supervisory Board) are available
for examination on every working day as of the notification of the EGM until
the business day preceding the day of the EGM at the headquarters of the
Company at Tulika 15/17, Tallinn on business days from 9 a.m. until 5 p.m.
(Estonian time).</span></span> 

<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">On the day of the EGM the materials related to the agenda of the
General Meeting are available for examination at the venue of the EGM as of the
opening of registration of participants until the end of the EGM. In order to
examine the documents: (1) the shareholders who are natural persons are
required to present a document verifying their identity and their
representatives are additionally required to present the power of attorney in
written form; (2) the representatives of the shareholders who are legal
entities shall present (a) an extract from the registry where the legal entity
is registered; and (b) a document verifying the identity of representative; and
(c) in case of representation on the basis of proxy, also a power of
attorney.</span></span> 

<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Documents and data which are disclosed according to Article 2941
of the Estonian Commercial Code and the templates of power of attorney are
available on the homepage of the Company:
http://www.silvanofashion.com.</span></span> 

<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">The following documents must be submitted to participate in EGM?-
the shareholders who are natural persons shall present a document verifying
their identity and their representatives shall present the power of attorney in
written form;?-   the representatives of the shareholders who are legal
entities shall present (a) an extract from the registry where the legal entity
is registered; and (b) a document verifying the identity of representative; (c)
in case of representation on the basis of proxy, also a power of attorney.
</span></span> 

<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Unless otherwise provided by a foreign agreement, a document
issued by a foreign authority shall be duly apostilled or legalized. Documents
in foreign language should be accompanied by the translation into Estonian,
verified by relevant institution.</span></span> 

<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Prior to the EGM the shareholder may notify the Company of the
appointment of a representative or the revocation of the representative's
authority by sending a digitally signed e-mail message to
[email protected] or by delivering the information in person on workdays
between 9 a.m. to 5 p.m. (Estonian time) or via mail to AS Silvano Fashion
Group, Tulika 15/17, 10613 Tallinn, Estonia by 5 p.m. (Estonian time) on the
business day preceding the day of the EGM.</span></span> 

<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">For any information regarding the EGM or the agenda items, please
contact Märt Meerits (e-mail [email protected]; phone +372 684
5000).</span></span> 

<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;"> </span></span> 

<span style="font-size:10pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Märt Meerits 
Chairman of the Board
Silvano Fashion Group
E-mail: [email protected]
Tel: +372 684 5000; Fax: +372 684 5300
Address: Tulika 15/17, 10613 Tallinn, Estonia
?http://www.silvanofashion.com</span></span>