Börsiteade

Pealkiri

OEG: Invitation to the Annual General Meeting of Shareholders of Olympic Entertainment Group AS

Teade

OLYMPIC ENTERTAINMENT GROUP AS, registry code 10592898, address Pronksi 19,
10124 Tallinn, (hereinafter Company), convenes annual General Meeting of
shareholders that will be held on 19 April 2012 at 10.00 AM at Reval Park Hotel
& Casino, Park Lounge (Kreutzwaldi 23, Tallinn). 

Agenda for the annual General Meeting is the following:

1. Approval of 2011 consolidated annual report of the Company;
2. Deciding on the distribution of profit;
3. Covering the accumulated losses on account of the mandatory reserve of the
Company; 
4. Covering accumulated losses on account of the share premium;
5. Reducing the Company’s share capital;
6. Appointing the auditor for auditing the financial year covering the period
from 01.01.2012 - 31.12.2012. 

The Supervisory Board of the Company has approved the agenda of the General
Meeting and makes the shareholders the following proposals: 



1. Approval of 2011 consolidated annual report of the Company

The Supervisory Board proposes to the general meeting to vote in favour of the
approval of the consolidated annual report of the Company for the financial
year of 2011, according to which the net profit amount is 13,830,017.30 euros
and accumulated losses amount is 33,760,113.89 euros. 



2. Deciding on the distribution of profit

The Supervisory Board proposes to the general meeting to vote in favour of the
approval of the 2011 financial year profit distribution proposal as follows: 
2.1. Net profit amount: 13,830,017.30 Euros;
2.2. Share of the profit intended to be distributed to the Shareholders: 0
Euros; 
2.3. Transfer to the mandatory reserve capital: 691,500.87 Euros;
2.4. Use of the profit for other purposes: the accumulated losses shall be
covered on account of 13,138,516.43 Euros. 



3. Covering the accumulated losses on account of the mandatory reserve of the
Company 

The Supervisory Board proposes to the general meeting to vote in favour of
covering the accumulated losses on account of the mandatory reserve of the
Company as follows: 
3.1. The amount of the mandatory reserve is 3,161,872.00 Euros and the amount
of retained loss (after approval of the decision set out in point 3.2 above) is
20,621,597.46 Euros. 
3.2. The mandatory reserve shall be used to the full extent to cover the loss
from previous periods. 



4. Covering the accumulated losses on account of the share premium

The Supervisory Board proposes to the general meeting to vote in favour of
covering the accumulated losses on account of the share premium as follows: 
4.1. The amount of the share premium is 14,534,820.30 Euros and the amount of
accumulated losses (after approval of the decisions set out in points 2 and 3
above) is 17,459,725.46 Euros. 
4.2. The share premium shall be used to the full extent to cover the loss from
previous periods. 



5. Reducing the Company's share capital

The Supervisory Board proposes to the general meeting to vote in favour of the
proposals to reduce the share capital as follows: 
5.1. to reduce the share capital of the Company altogether by 21,186,130.70
Euros from 81,717,932.70 Euros to 60,531,802 Euros; 
5.2. the share capital is reduced by reducing the calculated value of the
shares: as a result the reduction the calculated value of the share of the
Company is reduced from 0.54 Euros to 0.40 Euros, whereas the number of the
share remains the same (i.e. 151,329,505), and the new share capital is
60,531,802 Euros; 
5.3. upon reducing the share capital, 6,053,180.20 Euros shall not be paid to
the Shareholders but shall be used to cover the accumulated losses in the
amount of 2,924,905.16 Euros (after approval of the decisions set out in points
2-4 above) and the remaining part in the amount of 3,128,274.04 Euros shall be
transferred to the account of retained earnings; 
5.4. the reduction of share capital in the amount of 15,132,950.50 Euros shall
be paid to the Shareholders. The monetary disbursements to the Shareholders
shall be made within the term set forth by the law; 
5.5. the reason for reducing the share capital: the Company must cover the
accumulated losses in the amount of 2,924,905.16 Euros and also as currently
and in the near future the Company does need the amount of the share capital
registered at present time and the requirements set to the share capital by the
law have been fulfilled even if the amount of the share capital is lower; 
5.6. the list of Shareholders participating in reduction of share capital shall
be fixed as at 4 May 2012 at 23.59. 



6. Appointing the auditor for auditing the financial year covering the period
from 01.01.2012 – 31.12.2012 

The Supervisory Board proposes to the general meeting to vote in favour of the
proposal to appoint the auditor of the Company upon the following terms and
conditions: 
6.1. To appoint AS PricewaterhouseCoopers (registry code 10142876, seat Pärnu
mnt 15, Tallinn, 10141, Estonia) to serve as the auditor of the Company. 
6.2. AS PricewaterhouseCoopers shall audit the Company’s annual report for the
financial year from 01.01.2012 – 31.12.2012. 
6.3. For auditing the annual reports, the Company shall pay AS
PricewaterhouseCoopers a fee in the amount agreed upon in the contract
concluded with AS PricewaterhouseCoopers on rendering auditing services. 



ORGANISATIONAL ISSUES

After the items on the agenda, including any additional items, are exhausted
the shareholders may ask the management board to provide information about the
business of the Company in accordance with the procedure published on the
website of the Company http://www.olympic-casino.com. 

List of shareholders entitled to vote at the General Meeting will be fixed on
12 April 2012 at 11.59 PM. 

Registration to the meeting will start on the day of the meeting, 19 April
2012, at 09.30 AM at Reval Park Hotel & Casino, Park Lounge. Registration will
be carried out on the basis of an identification document and in case of the
shareholder’s representative, power of attorney or any other document
evidencing authorisation. The forms of power of attorney and revocation of the
power of attorney are available at the Company’s website
http://www.olympic-casino.com. Legal entities must also present a valid extract
of the registry card. The documents of a company incorporated abroad must be
legalised or stamped with apostille, if the international agreement does not
prescribe otherwise, and translated into Estonian by the sworn translator. 

A shareholder may notify about the appointment of a representative and the
withdrawal of the power of attorney of the principal prior to the general
meeting by sending respective digitally signed notice by e-mail to [email protected]
or by delivering respective document(s) on business days from 9 AM till 5 PM at
the latest by 18 April 2012 to the location of the Company at Pronksi 19, 3rd
floor. 

The annual report of the Company and the sworn auditor´s report have been made
available at the NASDAQ OMX Tallinn website www.nasdaqomxbaltic.com. The annual
report of the company, the drafts of resolutions and all other General Meeting
documents shall be made available at the Company´s website
http://www.olympic-casino.com and on business days from 9 AM till 5 PM also at
Pronksi 19, 3rd floor as of 28 March 2012. Questions in respect of the items in
the agenda of the General Meeting may be asked by e-mail: [email protected] or over
phone +372 667 1250. Questions, answers and the minutes and resolutions of the
annual General Meeting shall be disclosed at the Company´s website
http://www.olympic-casino.com. 

Shareholders, whose shares represent at least 1/20th of the share capital may
request that additional issues be included in the agenda of the general
meeting, provided that the relevant request is submitted in writing at least 15
days prior to the date of the general meeting, at the latest by the beginning
of the business day (09:00) on 4 April 2012. Shareholders, whose shares
represent at least 1/20th of the share capital may submit the Company written
draft resolutions regarding every item on the agenda of the general meeting, at
the latest 3 days prior to the date of the general meeting by the beginning of
the business day (09:00) on 16 April 2012. The procedure for exercising these
rights, as well as the submitted proposals regarding additional items on the
agenda, the reasoning for including any items on agenda, and draft resolutions
shall be published after their receipt on the website of the Company at
http://www.olympic-casino.com. The drafts and statements of reason thereof are
available for reviewing also at the office of the Company on workdays between
09:00 to 17:00 at Pronksi 19, 3rd floor. 



Madis Jääger
CEO
Olympic Entertainment Group AS
Tel + 372 667 1250
E-mail [email protected]
http://www.olympic-casino.com