Published: 2014-05-20 13:55:38 CEST
Tallinna Vesi
Minutes of annual general meeting

Decisions of the Annual General Meeting of Shareholders of AS Tallinna Vesi

AS Tallinna Vesi's Annual General Meeting of Shareholders was held on Tuesday, 20th of May 2014, from 09.06-10.31 at the Tallink Spa & Conference Hotel 2nd floor conference room "Galaxy 1".

15 084 114 votes, i.e 75,42% of the Company's 20 million votes were represented at the meeting.

THE AGENDA OF THE ANNUAL GENERAL MEETING:

1. Approval of 2013 Annual Report

RESOLUTION: With 15 080 978, i.e 99,98% votes in favour, to approve the 2013 Annual Report.

2. Distribution of profit

RESOLUTION: With 15 083 036, i.e 99,99% votes in favour, to approve the profit distribution proposal. The net profit of the Company in 2013 is 19 936 000 (nineteen million nine hundred thirty six thousand) euros. To distribute 18 000 600 (eighteen million six hundred) euros of AS Tallinna Vesi's retained earnings of 49 196 000 (forty nine million one hundred ninety six thousand) euros as of 31.12.2013, incl. from the net profit of 19 936 000 (nineteen million nine hundred thirty six thousand) euros for the year 2013, as dividends, of which 0,90 euros (zero point ninety) per share shall be paid to the owners of the A-shares and 600 (six hundred) euros per share shall be paid to the owner of the B-share. Remaining retained earnings will remain undistributed and allocations from 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 13.06.2014 and to determine the list of shareholders entitled to receive dividends on the basis of the share ledger as at 23.59 on 03.06.2014

3. Election of members of the Supervisory Council

RESOLUTION:

3.1. With 15 046 818, i.e 99,75% votes in favour, to elect Mr. Robert John Gallienne as a Supervisory Council member of AS Tallinna Vesi from 23.05.2014.

3.2. With 8 101 561, i.e 53,71% votes in favour, to elect Mr. Simon Roger Gardiner as a Supervisory Council member of AS Tallinna Vesi from 23.05.2014.

3.3. With 15 029 458, i.e 99,64% votes in favour, elect Mr. Mart Mägi as a Supervisory Council member of AS Tallinna Vesi from 23.05.2014.

3.4. With 14 848 419, i.e 98,44% votes in favour, to elect Mr. Rein Ratas as a Supervisory Council member of AS Tallinna Vesi from 23.05.2014.3

4. Election of auditor

RESOLUTION: With 15 022 260, i.e 99,59% votes in favour, to appoint AS PricewaterhouseCoopers as the auditor and Mr. Ago Vilu as the lead auditor for the financial year of 2014. To approve the principles for remuneration of the auditor as per the agreement signed with the auditor.

5. CEO update on privatisation contract dispute

The CEO update on privatisation contract dispute can be found from the attachement.

         Mariliis Mia Topp
         AS Tallinna Vesi
         Head of Communications
         Tel: +372 62 62 275
         mariliis.topp@tvesi.ee


20_05_2014_AGM Presentation_ENG-EST.pdf