2018: Decisions of the Annual General Meeting of Shareholders

AS Tallinna Vesi’s Annual General Meeting of Shareholders was held on Thursday, 31st of May 2018 from 09:00-10.15 at the Hotel Euroopa (Paadi 5, 10151 Tallinn) conference room “Lääne-Euroopa”. 14,945,429 votes, i.e. 74.73% of the Company’s 20 million votes were represented at the meeting.

THE AGENDA OF THE ANNUAL GENERAL MEETING:

  1. Approval of the 2017 Annual Report

RESOLUTION: with 14,861,239 votes in favour (i.e. 99.44% of all votes represented at the Annual General Meeting), to approve the 2017 Annual Report including the balance sheet total in the amount of EUR 228,408,000 (two hundred and twenty-eight million four hundred and eight thousand) and net profit in the amount of EUR 7,221,000 (seven million two hundred and twenty-one thousand).

  1. Distribution of profit

RESOLUTION: with 14,935,249 votes in favour (i.e. 99.93% of all votes represented at the Annual General Meeting), to approve the profit distribution proposal.

The net profit of the Company in 2017 is EUR 7,221,000 (seven million two hundred and twenty-one thousand). To distribute EUR 7,200,600 (seven million two hundred thousand and six hundred) of AS Tallinna Vesi’s retained earnings of EUR 47,804,000 (forty seven million eight hundred and four thousand) as of 31.12.2017, incl. from the net profit of EUR 7,221,000 (seven million two hundred and twenty-one thousand) for the year 2017, as dividends, of which EUR 0.36 (zero point thirty-six) per share shall be paid to the owners of the A-shares and EUR 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.

To pay the dividends out to the shareholders on 26th June 2018. The list of shareholders entitled to receive dividends will be established as at 14th June 2018 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 13th June 2018. A person acquiring the shares from 13th June 2018 onwards will not have the right to receive dividends for the financial year 2017.

  1. Recalling Mr. Rein Ratas from the Supervisory Council of AS Tallinna Vesi

RESOLUTION: with 14,869,896 votes in favour (i.e. 99.49% of all votes represented at the Annual General Meeting), to recall Mr. Rein Ratas from the Supervisory Council of AS Tallinna Vesi.

  1. Extension of the term of Supervisory Council members and election of a new Supervisory Council member

RESOLUTION 1: with 14,869,186 votes in favour (i.e. 99.49% of all votes represented at the Annual General Meeting), to extend Mr. Simon Roger Gardiner’s term as a Supervisory Council member of AS Tallinna Vesi from 3rd June 2018.

RESOLUTION 2: with 14,869,606 votes in favour (i.e. 99.49% of all votes represented at the Annual General Meeting), to extend Mr. Martin Padley’s term as a Supervisory Council member of AS Tallinna Vesi from 2nd November 2018.

RESOLUTION 3: with 14,838,444 votes in favour (i.e. 99.28% of all votes represented at the Annual General Meeting), to elect Katrin Kendra as a Supervisory Council member of AS Tallinna Vesi from the adoption of this resolution. The Council member will be remunerated in accordance with the agenda item 3 of the minutes of the General Meeting of Shareholders held on 22nd November 2005.

  1. Election of the auditor

RESOLUTION: with 14,869,186 votes in favour (i.e. 99.49% of all votes represented at the Annual General Meeting), to appoint AS PricewaterhouseCoopers as the auditor and Mr. Tiit Raimla as the lead auditor for the financial years of 2018 and 2019. To pay the fee to the auditor as per the offer made in the procurement

  1. CEO update

CEO update can be found here.