Tallinn, 2012-06-01 16:00 CEST (GLOBE NEWSWIRE) -- Shareholder’s draft of the resolution to the Annual General Meeting
Based on the § 293.1 section 6 of the Commercial Code, the Management Board of AS Tallink Grupp hereby makes available the draft of the resolution and the respective substantiation on the item no 5 of the agenda of the Annual General Meeting of AS Tallink Grupp of 7 June 2012 presented by the shareholder AS Infortar as follows:
In Tallinn, 01 June 2012
AS Infortar, address Sadama 5/7, Tallinn, registration code 10139414, who owns
269 576 164 AS Tallink Grupp shares, forming 40% of AS Tallink Grupp share capital, therefore AS Infortar shares represent at least one-twentieth of the share capital of AS Tallink Grupp,
submits to the Annual General Meeting of Shareholders of AS Tallink Grupp on 07 June 2012 the following draft resolution for the item no 5 of the agenda:
Draft RESOLUTION no. 5
Based on § 298 section 1 subsection 10 and § 326 of the Commercial Code, the General Meeting resolves:
1. To remunerate the work of the member of the Supervisory Board of AS Tallink Grupp as from 01 July 2012 as follows:
Chairman of the Supervisory Board - 2500 Euros per month;
Member of the Supervisory Board - 2000 Euros per month.
2. The Supervisory Board member Mr Ashwin Roy shall not be remunerated for his work as a member of the Supervisory Board with reference to his personal application about renouncing the payment.
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Ain Hanschmidt
Chairman of the Management Board
AS Infortar
Explanations about the proposal of AS Infortar as regards the point no 5 of the agenda of the Annual General Meeting of AS Tallink Grupp.
AS Infortar, located at Sadama 5/7 in Tallinn with the registration number 10139414 owns 269 576 164 shares in AS Tallink Grupp constituting 40% of the share capital of AS Tallink Grupp. Consequently the shares of AS Infortar represent at least 1/20 of the share capital of AS Tallink Grupp.
The rates of the remuneration of the members of the supervisory board remained in force as from 17.02.2007 whereas the remuneration of the chairman of the supervisory board was 30 000 EEK and of the member 25 000 EEK.
Due to the transition to euros as from January 2011 the remuneration rates in euros of the members of the supervisory board were determined by the decision of the Annual General meeting of AS Tallink Grupp at 28.02.2011 and these remained in the same level as compared to the rates established in 2007. In January 2010 the remuneration was decreased by 20 % until September 2010.
Taking in consideration the fact that the rates of remuneration of the members of the supervisory board have remained unchanged and they have not been increased, the shareholder proposes to increase the rates of remuneration for the chairman of the supervisory board by 500 euros and for the member by 400 euros. The remuneration of the chairman of the supervisory board would be 2500 euros and of the member 2000 euros.
Harri Hanschmidt
Head of Investor Relations
AS Tallink Grupp
Sadama 5/7. 10111 Tallinn
Tel +372 640 8981
E-mail harri.hanschmidt@tallink.ee