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Published: 2013-10-28 08:55:00 CET
Silvano Fashion Group
Major shareholder announcements

Changes in substantial shareholdings

Tallinn, 2013-10-28 08:55 CET --  

On October 23, 2013, Eastern Star Consulting ("ESC"), acting in the capacity as discretionary investment manager to underlying funds and managed accounts, namely Firebird Avrora Fund via Firebird Avrora Advisors LLC; Firebird Republics Fund and Firebird New Russia Fund via Firebird Management LLC; Firebird Fund via Firebird Advisors, notified the management board of Silvano Fashion Group (SFG) that it's aggregate shareholdings has exceeded the threshold of 5% of the total votes of in Silvano Fashion Group.

The reason for the change in the total number of votes was due to the purchase of 100 000 shares of the company on October 22, 2013, divided between Firebird Republics Fund, acquiring 25 000 shares and Firebird Fund, acquiring 75 000 shares.

Prior to the change of share amount, the funds managed by Eastern Star Consulting owned SFG shares in the following amounts:

Firebird Fund LP, holding 372 764 shares, representing 0.95% of the share capital of the company and the votes entitled to vote at the general meeting;
Firebird New Russia Fund, 
holding 513 684 shares, representing 1.30% of the share capital of the company and the votes entitled to vote at the general meeting;
Firebird Republics Fund, holding 
595 116 shares, representing 1.51% of the share capital of the company and the votes entitled to vote at the general meeting;
Firebird Avrora Fund, holding 486 000 shares, representing 1.23% of the share capital of the company and the votes entitled to vote at the general meeting.

After the transaction, funds managed by ESC held in total 2 067 564 shares of Silvano Fashion Group AS, which represents 5.25% of the share capital of the company and the votes entitled to vote at the general meeting, divided between the funds in the following amounts:

Firebird Fund LP, holding 447 764 shares, representing 1.14% of the share capital of the company and the votes entitled to vote at the general meeting;
Firebird New Russia Fund, holding 513 684 shares, representing 1.30% of the share capital of the company and the votes entitled to vote at the general meeting;
Firebird Republics Fund, holding 620 116 shares, representing 1.57% of the share capital of the company and the votes entitled to vote at the general meeting;
Firebird Avrora Fund, holding 486 000 shares, representing 1.23% of the share capital of the company and the votes entitled to vote at the general meeting.

The announcement is composed in accordance with Estonian Securities Market Act, Article 185, and in accordance with Article 69, Sec. 1, Item 2 in connection with Art. 87 Sec. 1 Item 3 Point b) of the Act on Public Offering, Conditions Governing the Introduction of Financial Instruments into Organized Trading, and Public Companies of Poland.             

Märt Meerits

Member of the management board

Silvano Fashion Group

Tel: 00 372 6845 000
info@silvanofashion.com