Tallinn, Estonia, 2012-03-13 15:30 CET (GLOBE NEWSWIRE) --
On 13.03.2012 AS Merko Ehitus established a fully owned subsidiary in Finland called Merko Finland OY (registration code 2463604-6). The establishing process was a mere technicality the aim of which was to create a legal platform in order to start doing business in Russia. With this move, Merko Ehitus wishes to confirm its strategic interest in development of project based activity outside Baltic States, including Russian market. The company will notify investors about the concluding of any specific contracts via the stock exchange system.
The company established will mainly specialize in the preparation and managing of development and construction projects in new markets, including Russia. The share capital of the new subsidiary is 2500 Euros.
According to the rules and regulations set to issuers by the NASDAQ OMX Tallinn Stock Exchange the transaction is not regarded as a transaction with a related party. The members of the Supervisory Board and Management Board of AS Merko Ehitus have no other personal interests in the transaction.
Additional information: Andres Trink, tel. +3726805400
Marko Pern
Financist
+372 6 805 130
marko.pern@merko.ee