Decisions of the Annual General Meeting of Shareholders
AS Tallinna Vesi’s Annual General Meeting of Shareholders was held on Tuesday, 21st of May 2013, from 09.20-10.50 at the Hotel Euroopa 2. floor conference room “Lääne-Euroopa”. 15 180 751 votes, i.e 75,90 % of the Company’s 20 million votes were represented at the meeting.
THE AGENDA OF THE ANNUAL GENERAL MEETING:
1. Approval of 2012 Annual Report
RESOLUTION: With 14 987 288, i.e 98,73% votes in favour, to approve the 2012 Annual Report.
2. Distribution of profit
RESOLUTION: With 14 942 582, i.e 98,43% votes in favour, to approve the profit distribution proposal. The net profit of the Company in 2012 is 22 599 000 (twenty-two million five hundred and ninety-nine thousand) euros. To distribute 17 400 600 (seventeen million four hundred thousand and six hundred) euros of AS Tallinna Vesi’s retained earnings of 46 661 000 (forty-six million six hundred and sixty-one thousand) euros as of 31.12.2012, incl. from the net profit of 22 599 000 (twenty-two million five hundred and ninety-nine thousand) euros for the year 2012, as dividends, of which 0,87 euros (eighty-seven euro cents) per share shall be paid to the owners of the A-shares and 600 (six hundred) euros per share shall be paid to the owner of the B-share. Remaining retained earnings will remain undistributed and allocations from net profit will not be made to the reserve capital. To pay the dividends out to the shareholders on 14th June 2013 and to determine the list of shareholders entitled to receive dividends on the basis of the share ledger as at 23.59 on 4th June 2013.
3. Recalling of a member of the Supervisory Council
RESOLUTION: Pursuant to the good corporate governance regarding change of independent supervisory council members to recall with 15 000 960, i.e 98,82% votes in favour Mr Valdur Laid from the Supervisory Council of AS Tallinna Vesi.
4. Election of a member of the Supervisory Council
RESOLUTION: To elect with 14 987 830, i.e 98,73% votes in favour Mr. Allar Jõks as an independent Supervisory Council member of AS Tallinna Vesi from 21st May, 2013.
5. Election of auditor
RESOLUTION: With 14 950 537, i.e 98,48% votes in favour to appoint AS PricewaterhouseCoopers as the auditor and Mr. Ago Vilu as the lead auditor for the financial year of 2013. To approve the principles for remuneration of the auditor as per the agreement signed with the auditor.
6. CEO update on privatisation contract dispute
The CEO update on privatisation contract dispute can be found here.