2020: Draft resolutions of AS Tallinna Vesi’s Annual General Meeting of Shareholders
Agenda Item No 1: Approval of the 2019 Annual Report
RESOLUTION: To approve the 2019 Annual Report including the balance sheet total in the amount of €262,855,000 (two hundred and sixty-two million eight hundred and fifty-five thousand) and net profit in the amount of €27,760,000 (twenty-seven million seven hundred and sixty thousand).
Agenda Item No 2: Distribution of profit
RESOLUTION: The net profit of the Company in 2019 is €27,760,000 (twenty-seven million seven hundred and sixty thousand). To distribute €20,000,600 (twenty million and six hundred) of AS Tallinna Vesi’s retained earnings of €77,512,000 (seventy-seven million five hundred and twelve thousand) as of 31/12/2019, incl. from the net profit of €27,760,000 (twenty-seven million seven hundred and sixty thousand) for the year 2019, as dividends, of which €1 (one) per share shall be paid to the owners of A-shares and €600 (six hundred) per share shall be paid to the owner of the B-share.
Remaining retained earnings will remain undistributed and allocations from the net profit will not be made to the reserve capital.
Based on the dividend proposal made by the Management Board, the Council proposes to the general meeting to decide to pay the dividends out to the shareholders on 26 June 2020. The list of shareholders entitled to receive dividends will be established as at 12 June 2020 at the closure of business day of the settlement system. Consequently, the day of change of the rights related to the shares (ex-dividend date) is set to 11 June 2020. A person acquiring the shares from 11 June 2020 onwards shall not be entitled to receive the dividends determined by this decision.
Agenda Item No 3: Extension of the terms of Supervisory Council members
RESOLUTION 1: To extend Mrs Katrin Kendra’s term as a Supervisory Council member of AS Tallinna Vesi by two (2) years from 1 June 2020.
RESOLUTION 2: To extend Mr Simon Roger Gardiner’s term as a Supervisory Council member of AS Tallinna Vesi by two (2) years from 4 June 2020.
RESOLUTION 3: To extend Mr Martin Padley’s term as a Supervisory Council member of AS Tallinna Vesi by two (2) years from 3 November 2020.
Agenda Item No 4: Election of the Auditor
RESOLUTION: To appoint AS PricewaterhouseCoopers as the auditor for the financial year of 2020. To pay the fee to the auditor as per the contract to be entered into with the auditor.