Published: 2021-03-19 12:00:00 CET
Tallinna Kaubamaja Grupp
Minutes of annual general meeting

Decisions of the annual general meeting of shareholders of Tallinna Kaubamaja Grupp AS 19.03.2021

The Annual General Meeting of Shareholders of Tallinna Kaubamaja Grupp AS was held on 19 March 2021 at the Radisson Blu Hotel Olümpia Conference Centre at Liivalaia 33, Tallinn. 29,541,042 votes, i.e. 72.53% of the Company`s 40,729,200 votes were represented at the meeting and 54 shareholders were represented at the meeting.
The decisions of the General Meeting were as follows:

1. Approval of the annual report of Tallinna Kaubamaja Grupp AS for 2020
With 29,541,042, i.e. 100% votes in favour, to approve the annual report of Tallinna Kaubamaja Grupp AS for 2020, in accordance with which the consolidated balance sheet of Tallinna Kaubamaja Grupp AS as at 31 December 2020 is 597,284 thousand euros, sales revenue 741,938 thousand euros, and net profit 19,499 thousand euros.

2. Profit distribution
With 29,541,042, i.e. 100.00% votes in favour, to approve the profit distribution proposal of 2020 of Tallinna Kaubamaja Grupp AS as follows:

Retained profits of previous years82,132 thousand euros
Net profit of 202019,499 thousand euros
Total distributable profit as at 31.12.2020101,631 thousand euros
To pay dividends 0.60 euros per share24,438 thousand euros
Retained profits after distribution of profits77,193 thousand euros

The list of shareholders entitled to receive the dividend will be fixed on 6 April 2021 as at the end of the business day of Nasdaq CSD’s Estonian settlement system. The dividend will be paid to shareholders on 9 April 2021 by transfer to the shareholder’s bank account.

3. Election of the members of the Supervisory Board and determination of the remuneration procedure
With 28,875,546, i.e. 97.75% votes in favour and in connection with expiration of the term of office of the members of the Supervisory Board on 20.05.2021, to elect Jüri Käo, Andres Järving, Enn Kunila, Gunnar Kraft and Meelis Milder as members of the Supervisory Board of Tallinna Kaubamaja Grupp AS for the next 3-year term of office as of 21.05.2021.
To remunerate the members of the Supervisory Board as follows: the amount of remuneration paid to the Chairman of the Supervisory Board is 2,400 euros per month and the amount of remuneration paid to the members of the Supervisory Board is 2,000 euros per month.

Dividend payment ex-date of Tallinna Kaubamaja Grupp AS

Proceeding from the above, Tallinna Kaubamaja Grupp AS informs that the dividend payment ex-date is 01.04.2021. From that date the new owner of the shares is not entitled to dividends for the year 2020.

The webinar recording of the annual general meeting is found at https://youtu.be/ZJLbn5wtt4o

Raul Puusepp
Chairman of the Board
Phone +372 731 5000