Merger of AS TERE and AS Kalev Paide Tootmine

 | Source: Luterma Luterma 

Harju county court register department made an entry of merger on AS TERE
registry card on basis of AS TERE and AS Kalev Paide Tootmine merger on
conclusion of merger agreement on 30 Oct 2008. The company being acquired AS
Kalev Paide Tootmine shall be considered wound-up upon entry to AS TERE
commercial registry. 

The members of the management board and supervisory board of AS TERE did not
change due to merger - AS TERE members of the management board are Ülo Kivine
and Taavi Toots and members of the supervisory board are Aivar Häelm, Marko
Kaha, Oliver Kruuda and Allan Viirma. Amount of the share capital of AS TERE
did not change; it is 80 million kroons (5,113 million Euros). 

AS Luterma subsidiary AS Kalev Paide Tootmine and its subsidiary Tere AS
entered into a merger agreement on 30 Oct 2008 in which the merger between the
parties was agreed so that Tere AS (the acquiring company) would merge with AS
Kalev Paide Tootmine (the company being acquired). 

(Look also AS Luterma announcement 30.10.2008.a “Conclusion of merger
agreement”) 

Allan Viirma
Head of Legal Services
688 6600