Why is Supervisory Council member elected?

Due to EBRD exercising the share put option that was part of the United Utilities (Tallinn) B.V. shareholders’ arrangements and selling its 8.82% indirect shareholding in Plc Tallinna Vesi to United Utilities Group PLC, EBRD will no longer have any representation on the Supervisory Council of Plc Tallinna Vesi. Consequently, Supervisory Council member Mr Matti Hyyrynen has submitted and the company has accepted his resignation letter for stepping down from the Supervisory Council of Plc Tallinna Vesi. Therefore a necessity to elect new Supervisory Council member has arisen.