Published: 2019-05-30 09:46:37 CEST
Tallinna Vesi
Minutes of annual general meeting

Decisions of the Annual General Meeting of Shareholders of AS Tallinna Vesi

AS Tallinna Vesi’s Annual General Meeting of Shareholders was held on Thursday, 30st of May 2019 from 09:00-10.00 at the at the hotel Original Sokos Hotel Viru (Viru väljak 4, 10111 Tallinn) conference room of 2nd floor „Bolero”. 15,075,100 votes, i.e. 75.38% of the Company’s 20 million votes were represented at the meeting.

DECISIONS OF THE ANNUAL GENERAL MEETING:

1. Approval of the 2018 Annual Report

RESOLUTION: with 15,028,200 votes in favour (i.e. 99.69% of all votes represented at the Annual General Meeting), to approve the 2018 Annual Report including the balance sheet total in the amount of €249,748,000 (two hundred and forty-nine million seven hundred and forty-eight thousand) and net profit in the amount of €24,150,000 (twenty-four million one hundred and fifty thousand).

2. Distribution of profit

RESOLUTION: with 15,068,359 votes in favour (i.e. 99.96% of all votes represented at the Annual General Meeting), to approve the profit distribution proposal. The net profit of the Company in 2018 is €24,150,000 (twenty-four million one hundred and fifty thousand). To distribute €15,000,600 (fifteen million six hundred) of AS Tallinna Vesi’s retained earnings of €64,753,000 (sixty-four million seven hundred and fifty-three thousand) as of 31/12/2018, incl. from the net profit of €24,150,000 (twenty-four million one hundred and fifty thousand) for the year 2018, as dividends, of which €0.75 (zero point seventy-five) per share shall be paid to the owners of A-shares and €600 (six hundred) per share shall be paid to the owner of the B-share. Remaining retained earnings will remain undistributed and allocations from the net profit will not be made to the reserve capital.

Based on the dividend proposal made by the Management Board, the Council proposes to the general meeting to decide to pay the dividends out to the shareholders on 25 June 2019. The list of shareholders entitled to receive dividends will be established as at 14 June 2019 at the closure of business day of the settlement system. Consequently, the day of change of the rights related to the shares (ex-dividend date) is set to 13 June 2019. A person acquiring the shares from 13 June 2019 onwards shall not be entitled to receive the dividends determined by this decision.

3. Extension of the term of Supervisory Council members

RESOLUTION 1: with 15,026,249 votes in favour (i.e. 99.68% of all votes represented at the Annual General Meeting), To extend Mr Allar Jõks’ term as a Supervisory Council member of AS Tallinna Vesi by two (2) years from 2 June 2019.

RESOLUTION 2: with 15,070,157 votes in favour (i.e. 99.97% of all votes represented at the Annual General Meeting), To extend Mr Priit Rohumaa’s term as a Supervisory Council member of AS Tallinna Vesi by two (2) years from 2 June 2019.

4. CEO update

CEO update can be found here.

Eliis Vennik
Head of Customer Relations and Communications
AS Tallinna Vesi
Tel: (+372) 62 62 275
Eliis.vennik@tvesi.ee