Nordecon
Minutes of annual general meeting

Resolutions of the Annual General Meeting of Nordecon AS

The Management Board of Nordecon AS (hereinafter the “Company”) proposed to the shareholders to adopt resolutions without convening the general meeting. The notice of adoption of resolutions without convening a general meeting was published on 29 April 2021 in the stock exchange information system of Nasdaq Tallinn and on the Company’s homepage, as well as in the 30 April 2021 issue of newspaper “Postimees”.

The resolutions of the general meeting of shareholders were voted by 12 shareholders, whose shares represented 22,065,812 votes or 69,99% of total ordinary shares outstanding. If a shareholder abstained, he/she was deemed to have voted against.

On 1 June 2021, the shareholders of the Company adopted the following resolutions:

1. Approval of the Company’s annual report for 2020

To approve the Company’s consolidated annual report for 2020 as submitted by the management board.

The shareholders voted in favor of the resolution by 22,065,812 votes or 69.99% of the votes.

2. Allocation of profit

To distribute to the profit as follows: the consolidated net profit attributable to the Company as the parent company of the consolidation group in the financial year 2020 amounts to 2,466 thousand euros, the Company’s retained profit from previous periods amounts to 12,077 thousand euros, and, thus, the total distributable profit as at 31 December 2020 amounted to 14,543 thousand euros. To allocate 0.06 euros per share as the profit to be distributed to the shareholders (dividend). No appropriations shall be made to the capital reserve or other reserves provided for by the law or the articles of association. Shareholders entitled to dividends include persons entered in the Company’s share register on 15 June 2021 as at the end of the working day of the settlement system. The ex-date is 14 June 2021; as of this date a person who acquired shares is not entitled to dividends for the 2020 financial year. No dividends shall be paid to the Company for own shares. The dividends will be distributed to the shareholders on 29 September 2021 at the latest.

The shareholders voted in favor of the resolution by 22,065,812 votes or 69.99% of the votes.

3. Election of auditor for the financial year 2021 and deciding on the remuneration of the auditor

To elect the current audit firm of the group, KPMG Baltics OÜ, as the auditor of the Company for the financial year 2021 and to pay for the services according to the agreement to be signed with the auditor.

The shareholders voted in favor of the resolution by 22,020,606 votes or 69.84% of the votes.

Andri Hõbemägi
Nordecon AS
Head of Investor Relations
Tel: +372 6272 022
E-mail: andri.hobemagi@nordecon.com
www.nordecon.com