Published: 2018-12-20 10:00:00 CET
Nordecon
Changes board/management/auditors

Change in management board of group subsidiary

Supervisory board of AS Tariston, a 100% subsidiary of Nordecon AS decided on its meeting held on 20 December 2018 to nominate as of 7 January 2019 Argo Kotsar as the new member of the board, responsible for the road construction activities as well as production and installation of asphaltic concrete. Starting from 1 January 2019, the Group’s infrastructure operations performed with own resources will be concentrated to Tariston AS. The aim of the change is to increase the efficiency of use of resources and thereby increase competitiveness and profitability of the company through single management.

Argo Kotsar has long term experience in management of road and infrastructure construction, having worked in Nordecon Group from 2001 to 2011 on different road construction management positions and subsequently in other companies of the sector, serving most recently from 2015 to 2018 as member of the board of Viaston Infra OÜ. He has studied transportation construction in Tallinn University of Technology and entrepreneurship and business administration in Estonian Business School. Argo Kotsar does not own any shares of Nordecon AS.

Starting from 7 January 2019 the management board of AS Tariston will continue with two members – Kaspar Kaldjärv (chairman of the board) and Argo Kotsar (member of the board).

Nordecon (www.nordecon.com) is a group of construction companies whose core business is construction project management and general contracting in the buildings and infrastructures segment. Geographically the Group operates in Estonia, Ukraine, Finland and Sweden. The parent of the Group is Nordecon AS, a company registered and located in Tallinn, Estonia. The consolidated revenue of the Group in 2017 was 231 million euros. Currently Nordecon Group employs close to 700 people. Since 18 May 2006 the company's shares have been quoted in the main list of the NASDAQ Tallinn Stock Exchange.

Andri Hõbemägi
Nordecon AS
Head of Investor Relations
Tel: +372 6272 022
E-mail: andri.hobemagi@nordecon.com
www.nordecon.com