Published: 2014-04-30 09:57:15 CEST
Merko Ehitus
Minutes of annual general meeting

Resolutions of the annual general meeting

Tallinn, Estonia, 2014-04-30 09:57 CEST --  

The general meeting of shareholders of AS Merko Ehitus was held on April 30th 2014 and the following decisions were made:

1. Approval of the annual report of the year 2013 and overview of the economic results and the prospective of the on-going year

The general meeting of shareholders decided to approve the annual report of the year 2013 and to consider the Management Board’s overview of the economic results and prospective outlooks of the on-going year.

2. Proposal on distribution of profits

The general meeting of shareholders decided to:

(i) approve the net profit for the year 2013 as EUR 10,399,101;

(ii) pay the shareholders the total amount of EUR 7,257,000 as dividends from net profit brought forward, which totals to EUR 0.41 per share;

shareholders, entered into the share register of AS Merko Ehitus on May 16th 2014, at 23.59, will be entitled to dividends;

dividends will be paid to the shareholders on May 20th 2014 by transferring the amount concerned to shareholder’s bank account, linked to security account;

(iii) the outstanding net profit will not be distributed.

3. Extension of powers of members of the current Supervisory Board

The general meeting of shareholders decided to:

(i) extend the terms of office of members of the Supervisory Board Toomas Annus, Teet Roopalu, Indrek Neivelt and Olari Taal until April 30th 2017, i.e. for a period of three years from the moment of deciding the extension;

(ii) continue remuneration of members of the Supervisory Board based on terms and conditions approved at general meeting of shareholders of AS Merko Ehitus, held on October 31st 2008.

4. Appointment of auditor for the financial year of 2014

The general meeting of shareholders decided to appoint AS PricewaterhouseCoopers the auditor of AS Merko Ehitus for the financial year of 2014 and to pay to the auditing company for auditing the financial year of 2014 as per contract to be entered into with AS PricewaterhouseCoopers.


The 2013 annual yearbook of AS Merko Ehitus and the presentation used by the Mangement Board at the general meeting of shareholders have been attached to the current announcement.

AS Merko Ehitus (www.merko.ee) comprises the leading Estonian construction company AS Merko Ehitus Eesti, the Latvian market based SIA Merks and the Lithuanian market based UAB Merko Statyba as well as the group’s real estate development business unit together with companies holding real estate properties. As at the end of 2013, the group employed 860 people and the 2013 revenue amounted to EUR 262.7 million.


Andres Trink
Chairman of the Management Board
+372 650 1250
andres.trink@merko.ee


Merko_Ehitus_Yearbook_2013.pdf
Merko_Ehitus_AGM_presentation_30_04_2014.pdf