On March 6, 2007 the shareholders of Q Vara OÜ decided to reorganize Q Vara
from private limited company ("Osaühing") into public limited company
(„Aktsiaselts”). The decision does not bring any changes in the current
shareholders' share proportions. The change also does not affect employees,
management board members nor supervisory board members.
The shareholders' meeting also decided to approve the 25% minority shareholder
buyout by Q Vara OÜ's subsidiary SIA Q Estate in SIA Quality Nami. The minority
shareholding is owned by Viktorija Zagrebilnaja. SIA Quality Nami is developing
an appartment building with 403 appartments in Riga on Maskavas street.
Currently SIA Q Estate owns 75% of SIA Quality Nami.
The buy-out price is EUR 3 300 000 (three million three hundred thousand) of
which EUR 3 000 000 (three million) will be paid after signing the
sale-purchase agreement and EUR 300 000 (three hundred thousand) after
finalizing the project's technical plans and approval of the construction
permit by Riga City.
The third decision by the shareholders' meeting was to approve the
establishment of OÜ Q Ehitus' subsidiary in Lithuania. The new company will
start to offer construction main contracting services in Lithuania. The company
will be named Q Statyba and Q Ehitus will own 100% of its shares.
Additional information:
Meelis Šokman
Chairman of the management board
Q Vara OÜ
Phone: 668 1600