Observation status applied to AS Tallinna Vesi shares
Tallinn, Estonia, 2021-02-03 15:25 CET --
Nasdaq Tallinn decided on February 3, 2021 to apply observation status to AS Tallinna Vesi shares (TVEAT, ISIN code: EE3100026436) based on the section 184.108.40.206.of chapter Supervision of the rules and regulations in relation to the announced intention of takeover offer to the shareholders.
Based on sub-sections of the clause 3.5. of the Supervision Rules of Nasdaq Tallinn, the Exchange has the right to add an observation status to a share and to the trading information displayed on the web site to draw the market participants' attention to significant circumstances related to a security or an issuer.
According to Supervision Rules clause 220.127.116.11 the observation status can be added in the case of making takeover offer to the shareholders of the issuer or announcing the intention of such an offer.
Today, on February 3, AS Tallinna Vesi disclosed information about contemplated changes in the structure of shareholders with substantial shareholdings and the intention of making tender offer to the shareholders of the issuer by City of Tallinn and Osaühing Utilitas after completion of the transaction. The completion of the transaction is subject to the receipt of the approval of the Estonian Competition Authority and subject to approval by Financial Supervisory Authority.
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