Cobalt has advised Estonian software company Helmes AS on its launch of an option program that will enable 70 of its employees to become shareholders of the company. Within the framework of the option program, 12 percent of the company’s shares will be distributed among employees on favorable conditions.
Cobalt has advised Estonian-based asset management service provider AS Kawe Kapital on obtaining an activity license to operate as an investment firm from the Estonian Financial Supervision Authority. The license gives AS Kawe Kapital the right to manage securities portfolios and to provide investment advisory services and certain ancillary services.
The European Commission has just published its comprehensive proposal for the so-called "New Deal for Consumers", which aims to strengthen EU consumer rights and enforcement. This includes the proposal for a new Directive enabling certain qualified entities to seek redress on behalf of consumers who have been harmed by an unlawful commercial practice.
Sorainen and Brandl & Talos have advised investment company Novalpina on the public offer by its Odyssey Europe AS subsidiary to acquire all the shares in the listed Estonian gaming group Olympic Entertainment Group, following which — assuming shareholder approval — Odyssey will delist OEG from the Nasdaq Tallinn Stock Exchange, then merge the two companies.