Published: 2021-08-30 08:59:00 CEST
Elmo Rent
Announcement from First North

Decisions of the Supervisory Board of ELMO Rent AS of 24.08.21

The Supervisory Board of ELMO Rent AS informs of the decisions made on 24.08.21 by the stock exchange:


1) Election of the Chairman of the Supervisory Board - proposal to elect Enn Laansoo, Jr.

DECISION: Enn Laansoo, Jr., elected unanimously as the Chairman of the Supervisory Board


2) Results for the first half of 2021 - financial tables see Annex 1 (the results will be announced in a separate stock exchange announcement)

DECISION: to approve the result of the first half of the year according to the attached material


3) Introduction and approval of the employee stock option program

DECISION: to approve the employee stock option program submitted by the Management Board in accordance with Annex 2


4) Approval of remuneration of the working shareholders Julia Nekrassova and Enn Laansoo, Jr. and setting benefits for a member of the management board

DECISION: to approve the proposal of the Management Board on the remuneration of the working shareholders (Julia Nekrassova, Enn Laansoo, Jr.)

DECISION (Julia and Enn withdrew from the decision): to authorize Julia Nekrassova to sign an employment contract with Enn Laansoo, Jr.

DECISION: decided that Enn negotiates with Julia the specified benefits and the confidentiality clause of the board member


5) Conversion of the shareholder City Foxes Invest OÜ short-term loan to into a long-term loan. Loan terms 6%/annual, 10a annuity, unsecured

DECISION: to modify the short-term loan of City Foxes Invest OÜ into a long-term loan, to authorize Enn Laansoo, Jr. to sign the agreement


For discussion:

6) current use of the IPO financial instruments in the and a cash flow overview

OUTCOME: The use of financial resources complies in a large extent with the plans made, note taken


7) An overview of remote car technology and app development, testing and the overview of thenext two months

RESULT: positive developments noted


8) Merger of the subsidiaries Elmo Rent Autojagamine OÜ and Elmo Rent Eesti OÜ with the parent company ELMO Rent AS

OUTCOME: postpone the discussion to the next supervisory board meeting


More information:

Enn Laansoo, Jr.

Chairman of the Board