OREANDA-NEWS. October 20, 2009. Members of the Council of AS Eesti Telekom Tarmo Porgand and Juri Raatma submitted notices of their resignation from the council in connection with a requirement stipulated in § 69 (1) of the Estonian Public Service Act, reported the press-centre of Eesti Telekom.

According to § 69 (1) of the Public Service Act, it is prohibited for a state official to belong to the permanent directing body or permanent control or audit body of a company, except as a representative of the state to the directing or supervisory body of a company with participation of the state or a person in public law.

In connection with the above and in correspondence with §319 (7) of the Estonian Commercial Code, Tarmo Porgand and Juri Raatma have announced that they will resign from the Council of AS Eesti Telekom from the moment of execution of payment of purchase price to the bank account of the Ministry of Finance of the Republic of Estonia and transfer of shares to the securities account of TeliaSonera AB, as provided in the cash offer made on 9 September 2009 by TeliaSonera AB to acquire shares of AS Eesti Telekom. In accordance with the prospectus of the cash offer, payment of the purchase price and transfer of the shares will be executed on 16 October 2009.

The Management Board of AS Eesti Telekom will inform the general meeting of the resignation of Tarmo Porgand and Juri Raatma during the next general meeting of shareholders of AS Eesti Telekom.