Decisions of the annual general meeting of shareholders of EfTEN Real Estate Fund III AS 18.06.2020
The annual general meeting of shareholders of EfTEN Real Estate Fund III AS was held on 18 June 2020 in in the Radisson Blu Sky Hotel Conference Center (2nd floor, Tallinn, Rävala pst 3). 142 shareholders attended the meeting representing 75,16 % of the total votes represented by the all shares. Therefore, the meeting was eligible to adopt decisions.
The decisions of the annual general meetoing were as follows:
Approval of the annual report of EfTEN Real Estate Fund III AS for 2019
With 2 732 552, i.e. 86,10 % votes in favour, the shareholders decided to approve the annual report of EfTEN Real Estate Fund III AS for the financial year 2019 in the form submitted to the Annual General Meeting.
Distribution of profit
With 3 147 431, i.e. 99,17 % votes in favour, the shareholders decided to approve the profit distribution proposal.
The consolidated net profit of the 2019 financial year of the fund is 7 737 201 euros. To distribute the undistributed profit as at 31 December 2019 in the total amount of 18 351 557 euros as follows: Transfers to the reserve capital: 386 852 euros;
Profit to be distributed between the shareholders (net dividend): 2 744 648 euros (65 euro cents per share);
Transfers to other reserves shall not be made and profit shall not be used for any other purposes. Amount of undistributed profit after transfers is 15 220 097 euros.
The list of shareholders entitled to dividends shall be fixed on 7 July 2020 as at the end of the working day of the registrar of the settlement system of the fund’s securities. Therefore, the date of change in the rights attaching to shares (ex-date) is 6 July 2020. As of this date a person who acquired shares is not entitled to dividends for the 2019 financial year. Dividend shall be paid to the shareholders on 10 July 2020 by way of bank transfer to the shareholder’s bank account.
Amendment of the articles of association
With 2 716 967, i.e. 85,61 % votes in favour, the shareholders decided to approve the new articles of association as presented to the general meeting.
Extension of the authorisations of the members of the Supervisory Board
With 2 647 638, i.e. 83,42 % votes in favour, the shareholders decided to extend the authorisations of the members of the Supervisory Board Arti Arakas, Sander Rebane, Siive Penu and Olav Miil until 18 June 2025, i.e. for a period of five years from the moment of deciding the extension.
Member of the Management Board
Phone 655 9515