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Published: 2022-03-18 15:00:00 CET
Tallinna Kaubamaja Grupp
Minutes of annual general meeting

Decisions of the annual general meeting of shareholders of Tallinna Kaubamaja Grupp AS 18 March 2022

The Annual General Meeting of Shareholders of Tallinna Kaubamaja Grupp AS was held on 18 March 2022 at the L’Embitu Hotel Conference Centre at Lembitu 12, Tallinn. 29,244,499 votes, i.e. 71.80% of the Company`s 40,729,200 votes were represented at the meeting and 51 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 2021
With 28,960,361, i.e. 99.03% votes in favour, to approve the annual report of Tallinna Kaubamaja Grupp AS for 2021, in accordance with which the consolidated balance sheet of Tallinna Kaubamaja Grupp AS as at 31 December 2021 is 635,309 thousand euros, sales revenue 821,648 thousand euros, and net profit 32,016 thousand euros.

2. Profit distribution
With 29,244,484, i.e. 100% votes in favour, to approve the profit distribution proposal of 2021 of Tallinna Kaubamaja Grupp AS as follows:

Retained earnings from previous years79,416 thousand euros
Net profit for 202132,016 thousand euros
Total distributable profit as at 31 December 2021111,432 thousand euros
Pay a dividend of 0.68 euros per share27,696 thousand euros
Retained earnings after the distribution of profits83,736 thousand euros

The list of shareholders entitled to receive the dividend will be fixed on 1 April 2022 as at the end of the business day of Nasdaq CSD’s Estonian settlement system. The dividend will be paid to shareholders on 6 April 2022 by transfer to the shareholder’s bank account.

3. Appointment of an auditor and determination of remuneration procedure
With 29,243,808, i.e. 100% votes in favour to appoint AS PricewaterhouseCoopers, registry code 10142876, to conduct the audit of financial years 2022-2024 of Tallinna Kaubamaja Grupp AS. The amount of the auditor’s fee shall be decided by the Management Board of the company.

4. Approval of the principles of remuneration of the members of the Management Board

With 28,956,732, i.e. 99.02% votes in favour to approve the principles of remuneration of the members of the Management Board of Tallinna Kaubamaja Grupp AS approved by the Supervisory Board.

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 31.03.2022. From that date the new owner of the shares is not entitled to dividends for the year 2021.

The webinar recording of the annual general meeting is found at https://youtu.be/Cw_7ZCKthRc

Raul Puusepp
Chairman of the Board
Phone +372 731 5000

Attachment



Minutes of the annual general meeting of the shareholders of Tallinna Kaubamaja Grupp_18032022.pdf