Today techs BALTIKA AS’s remark relating to the Itemizing and

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Baltika AS (hereinafter Baltika) has taken be aware of the views expressed within the resolution of the Nasdaq Tallinn Inventory Trade’s Itemizing and Supervisory Committee (hereinafter the Committee) relating to violation of the rules and can take them under consideration with a purpose to keep away from additional errors.

On September 20, 2022, the Fee introduced the choice, on the idea of which Baltika was assigned the necessities of clauses 1.2.1, 2.4.1, 6.1, 6.2 and seven.9 of the regulation half Necessities for Issuers. a positive within the quantity of three,000 euros for the violation.

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Baltika explains that Baltika’s mistake in deciphering the provisions today techs of the duty to reveal info, which was the idea of the Fee’s resolution, was as a consequence of the truth that on 10.04.2022 Baltika revealed details about the concluded mortgage settlement on web page 4 of its interim report for the primary quarter, with which Baltika deemed the duty to reveal info stipulated within the rules fulfilled, however not as a separate inventory change announcement.

The data that was not revealed as a inventory change announcement was a brand new mortgage settlement signed with KJK Fund Sicav-SIF, the principle shareholder of Baltika Group, in April 2022, on the idea of which KJK Fund Sicav-SIF granted today techs Baltika an interest-free mortgage with a principal quantity of 700 thousand euros with a reimbursement deadline of December 2024.

Baltika’s mistake in level 7.9.5 of the regulation, which was the idea of the Fee’s resolution, which offers with presenting a transaction with an individual associated to a big transaction to the final assembly of shareholders for approval, was associated to the truth that since Baltika’s important shareholder, KJK Fund Sicav-SIF, has been offering loans to Baltika for years underneath the identical circumstances and in quantities of the identical magnitude , Baltika was of the opinion that within the type of granting a mortgage, it was a common related transaction underneath common circumstances, subsequently, in response to clause of the regulation, the restriction didn’t apply.

Baltika confirms that the errors haven’t been intentional, however as a consequence of totally different follow and understanding in fulfilling the necessities of the regulation. Since these are annual regular mortgage transactions underneath basically the identical circumstances, which have a long-term follow, but in addition relying on the importance of the quarterly studies as inventory change bulletins, Baltika has to this point been based mostly on inaccurate understandings and takes the Fee’s directions severely.

Baltika considers openness and transparency essential, and the data and observations obtained from the Fee in the course today techs of the supervision process will probably be an essential information sooner or later when publishing inventory change bulletins. The workers chargeable for communication with the Baltika inventory change are presently and constantly familiarizing themselves with the necessities for disclosure of data on the inventory change and can recurrently take part in trainings sooner or later.

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Brigitta Kippak
Member of the board, CEO

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