2021: AS Tallinna Vesi Supervisory Council Report on Activities in the Financial Year of 2020
The Supervisory Council (hereinafter the Council) of AS Tallinna Vesi (hereinafter the Company) has, by the minuted decision of the 25 March 2021 Council meeting, approved this report providing an overview of the activities of the Council in managing and administrating the Company, to be presented to the Annual General Meeting of the shareholders of the Company to be held on 3 June 2021.
The Council has examined the integrated Annual Report for the financial year of 2020 (Annual Report) presented by the Management Board of the Company, comprising the Annual Accounts, sustainability report and the Management Board’s activity report along with the appended certified auditor’s reports.
The Council unanimously resolved to approve the integrated Annual Report for the financial year of 2020 with appendices.
The Council has organized and directed the activities of the Company in accordance with applicable law and the Articles of Association of the Company.
During the financial year of 2020, the Council held meetings on 30 January, 26 March, 23 April, 30 July, 29 October, and 9 December.
During the meetings held during the financial year of 2020, the Council discussed various issues and supporting data, relating to the management and administration of the Company, including the financial performance of the Company and the Company’s compliance with the Levels of Service as set out in the Services Agreement and the Project Agreements. The Council also discussed the extension of the Technical Services Agreement and approval of the new dividend policy of the Company. The Council received updates on the restrictions within the Company to prevent the spread of COVID-19 and limit its impact on the Company. The Operating Cost, Revenue and Capital budgets for the financial year of 2021 were examined in detail and approved, as were other issues raised by the Management Board.
The Council was also actively engaged in the matters of the Company in between the Council meetings and adopted several resolutions without calling a meeting:
- 20/01/2020 – resolution to authorise the Management Board to conclude an agreement with the winner of the procurement „Reconstruction of wastewater collector at Kadaka Blvrd“;
- 25/02/2020 – resolution to extend the term of office of a member of the Management Board Karl Heino Brookes by three years starting as from 22 March 2020 until 22 March 2023 (included);
- 16/06/2020 – resolution to authorise the Management Board to conclude an agreement with the winner of the procurement „Reconstruction of the inlet and outlet pipes of the booster pumping station on Punane Str.“
- 14/09/2020 – resolution to authorise the Management Board to conclude an agreement with the winner of the procurement for the “Installation of pumps, construction of electrical supply and automatic control systems for the installation of pumps at the main pumping station of the Tallinn Wastewater Treatment Plant“;
- 14/09/2020 – resolution to authorise the Management Board to conclude framework contracts with the qualified bidders in the procurement “Award of the framework contracts for the purchase of electricity“;
- 14/09/2020 – resolution to authorise the Management Board to conclude framework contracts with the qualified bidders in the procurement “Purchase of repair materials for the exterior water and sewer mains“.
It is the understanding of the Council that any issues outside the day-to-day management of the Company have been referred by the Management Board to the Council for consent as required by the law and the Articles of Association of the Company.
In addition, the Management Board has submitted to the Council, at each appropriate meeting, a Management Report (that included sections on corporate issues, operations, development, customer services and financial issues) in order to give a full overview of the economic activities, financial position, corporate governance and service delivery levels of the Company and of the activities of the Management Board.
During the financial year of 2020, there was one change in the membership of the Council. Mr Keith Haslett was recalled on 30 August 2020 and Mr Thomas Wright Lissett was appointed as a Council member on 1 September 2020. The full list of Council members during the financial year of 2020 and their terms of office are listed in the Appendix 1 of this report.
As a result of the activities and good work of the Management Board, in the financial year of 2020, the Company kept the operating profits from the main activities stable and further enhanced operational performance. The Council appreciates the contributions of the Management Board and all other employees, in further enhancing performance during 2020.
Appendix 1 – Council members during 2020
The Council members of the Company in 2020 were:
- Simon Roger Gardiner,
elected as of 10/12/2010, last re-election as of 04/06/2020
- Martin Padley,
elected as of 01/11/2014, last re-election as of 03/11/2020
- Katrin Kendra,
elected as of 31/05/2018, re-election as of 01/06/2020
- Toivo Tootsen,
appointed as of 07/04/2011, last re-appointment as of 07/04/2019, also 21/12/2001-16/11/2004
- Priit Lello,
appointed as of 16/11/2011, last re-appointment as of 15/11/2019
- Allar Jõks,
elected as of 21/05/2013, last re-election as of 02/06/2019
- Brendan Francis Murphy,
appointed as of 27/10/2011, last re-appointment as of 29/10/2019
- James Keith Haslett,
appointed as of 22/01/2018, re-appointment as of 23/01/2020, recalled as of 30/08/2020
- Priit Rohumaa,
elected as of 01/06/2017, re-election as of 2/06/2019
- Thomas Wright Lissett,
appointed as of 01/09/2020