The Annual General Meeting of Shareholders of Tallinna Kaubamaja Grupp AS was held on 22 March 2018 in the Conference centre of Nordic Hotel Forum, Viru väljak 3, Tallinn. 32,739,157 votes, i.e. 80.38% of the Company`s 40,729,200 votes were represented at the meeting.
The decisions of the General Meeting were as follows:
1. Approval of the annual report of Tallinna Kaubamaja Grupp AS for 2017
With 32,684,708, i.e. 99.83% votes in favour, to approve the annual report of Tallinna Kaubamaja Grupp AS for 2017, according to which the consolidated balance sheet of Tallinna Kaubamaja Grupp AS as at 31.12.2017 is 397,495 thousand euros, the sales revenue for the accounting year is 651,257 thousand euros and the net profit 29,831 thousand euros.
2. Profit distribution
With 32,737,691, i.e. 100.00% votes in favour, to approve the profit distribution proposal of 2017 of Tallinna Kaubamaja Grupp AS as follows:
| Retained profits of previous years | 77,421 thousand euros |
| Net profit of 2017 | 29,831 thousand euros |
| Total distributable profit as at 31.12.2017 | 107,252 thousand euros |
| To pay dividends 0.69 euros per share | 28,103 thousand euros |
| Retained profits after distribution of profits | 79,149 thousand euros |
The list of shareholders with a right to receive dividends shall be fixed as at 9 April 2018 at the end of the working day of the Nasdaq CSD Estonian Settlement System. Dividends shall be paid to the shareholders via transfer on 10 April 2018 to a bank account of a shareholder.
3. Appointment of an auditor and determination of remuneration procedure
With 32,363,032, i.e. 98.85% votes in favour, to appoint AS PricewaterhouseCoopers, registry code 10142876, to conduct the audit of financial year 2018 of Tallinna Kaubamaja Grupp AS. The amount of the auditor’s fee shall be decided by the Management Board of the company.
4. Election of the members of the Supervisory Board and determination of the remuneration procedure
With 32,256,715, i.e. 98.53% votes in favour and in connection with expiration of the term of office of the members of the Supervisory Board on 19.05.2018, to elect Jüri Käo, Andres Järving, Enn Kunila, Gunnar Kraft and Meelis Milder as members of the Supervisory Board of Tallinna Kaubamaja Grupp AS for the next 3-year term of office as of 20.05.2018.
To remunerate the members of the Supervisory Board as follows: the amount of remuneration paid to the Chairman of the Supervisory Board is 2,400 euros per month and the amount of remuneration paid to the members of the Supervisory Board is 2,000 euros per month.
Dividend payment ex-date of Tallinna Kaubamaja Grupp AS
Proceeding from the above, Tallinna Kaubamaja Grupp AS informs that the dividend payment ex-date is 06.04.2018. From that date the new owner of the shares is not entitled to dividends for the year 2017.
Raul Puusepp
Chairman of the Board
Phone +372 731 5000