Establishment of new subsidiary of the group

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| Source: Pro Kapital Grupp
multilang-release

Tallinn, 2014-03-24 12:56 CET (GLOBE NEWSWIRE) -- AS Pro Kapital Grupp informs that subsidiary company of the group AS Pro Kapital Eesti has on 24.03.2014 concluded the contract for establishment of OÜ Vene 19. The business area of the new subsidiary of AS Pro Kapital Eesti is maintenance and rent of own real-estate and the planned business activity is management of commercial premises located at Vene Street in Tallinn.

The transaction is not considered to be a transaction with connected persons within the meaning of the stock-exchange requirements and members of the Issuer’s supervisory board and management board are otherwise personally not interested in the transaction.  The establishment of the subsidiary does not have an effect of the economic activity of the issuer. 

The share capital of OÜ Vene 19 is EUR 2500, which upon the establishment of the company belongs 100% to AS Pro Kapital Eesti. The member of the management board of the new company is Allan Remmelkoor, the Member of the Management Board of AS Pro Kapital Grupp.

The purpose of establishment of the subsidiary is to transfer of the commercial premises located at Vene street in Tallinn to the subsidiary.

Additional information:

AS Pro Kapital Eesti is a company established 17.05.2000, which belongs 100% to AS Pro Kapital Grupp. AS Pro Kapital Eesti is the holding company of Pro Kapital Estonian subsidiaries.
 

         Iveta Vanaga
         Head of Investor Relations
         Phone: +37129239064
         E-mail: iveta@prokapital.lv