Notice on convening a regular meeting of shareholders of AS Merko Ehitus

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| Source: Merko Ehitus
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Tallinn, Estonia, 2014-04-07 23:02 CEST (GLOBE NEWSWIRE) --  

The Management Board of AS Merko Ehitus, registry code 11520257, seated at Järvevana tee 9G, Tallinn, 11314, will convene a regular meeting of shareholders of AS Merko Ehitus on Wednesday, April 30th 2014 at 10.00 at the Arcturus conference hall of Nordic Hotel Forum (Viru square 3, Tallinn).

The circle of shareholders, entitled for the participation in general meeting, will be determined as of April 23rd 2014, at 23.59 o’clock. Registration of participants of the meeting is about to be opened on April 30th 2014 at 09.30.

Agenda of the general meeting:

1. Approval of the annual report of the year 2013 and overview of the economic results and the prospective of the on-going year

The Supervisory Board proposes to the shareholders to approve the annual report of the financial year 2013 of AS Merko Ehitus and to consider the Management Board’s overview of the economic results and prospective outlooks of the on-going year.

2. Proposal on distribution of profits

The Supervisory Board proposes to:

(i)         approve the net profit for the year 2013 as EUR 10,399,101;

(ii)        pay the shareholders the total amount of EUR 7,257,000 as dividends from net profit brought forward, which totals to EUR 0.41 per share;

shareholders, entered into the share register of AS Merko Ehitus on May 16th 2014, at 23.59, will be entitled to dividends;

dividends will be paid to the shareholders on May 20th 2014 by transferring the amount concerned to shareholder’s bank account, linked to security account;

(iii)       the outstanding net profit will not be distributed.

3. Extension of powers of members of the current Supervisory Board

The Supervisory Board proposes to:

(i)        extend the terms of office of members of the Supervisory Board Toomas Annus, Teet Roopalu, Indrek Neivelt and Olari Taal until April 30th 2017, i.e. for a period of three years from the moment of deciding the extension;

(ii)       continue remuneration of members of the Supervisory Board based on terms and conditions approved at general meeting of shareholders of AS Merko Ehitus, held on 31.10.2008.

4. Appointment of auditor for the financial year of 2014

The Supervisory Board proposes to appoint AS PricewaterhouseCoopers the auditor of AS Merko Ehitus for the financial year of 2014 and to pay to the auditing company for auditing the financial year of 2014 as per contract to be entered into with AS PricewaterhouseCoopers.

The Supervisory Board ascertains that the Supervisory Board is satisfied with the hitherto work of AS PricewaterhouseCoopers and hence makes a proposal to appoint the auditing company AS PricewaterhouseCoopers also for the following period.

Organisational issues

You’re asked to submit the following for the registration of participants of the general meeting:

  • Passport or ID document is required to identify natural persons-shareholders; a suitably prepared proxy is also required of representatives;
  • Representatives of a legal person-shareholders are required to provide an excerpt from an appropriate (business) register where the legal person is registered, which identifies the individual’s right to represent the shareholder (legal representation) and passport or identification document of the representative; if the type of representation is other that legal representation, a suitably prepared proxy must also be provided (authorities granted by transaction) and the representative’s passport or identification document. You are kindly asked to legalise the registration documents of a legal person, registered in a foreign country (with the exception of unattested proxy) or have them apostilled, if not provided otherwise by an international treaty. AS Merko Ehitus may register shareholders, who are legal persons registered in a foreign country, as participants of general meeting, when all the required information on the legal person and representative concerned are given in a notarised proxy, issued to the representative in a foreign country, and the proxy is acceptable in Estonia.

A shareholder may notify AS Merko Ehitus of appointing a representative and having withdrawn a proxy before the general meeting, by supplying a digitally signed proxy and other required documents by e-mail to the following address: tallinn@merko.ee or delivering the written and signed documents on paper (proxy and other required documents) to the office of AS Merko Ehitus at Pärnu mnt 141 Delta Plaza 7th floor, Tallinn (on working days from 10.00 through 16.00) by April 29th 2014, 16.00, as latest, using the forms published by AS Merko Ehitus on its website at http://www.merko.ee/. It is not possible to vote electronically or by mail at the general meeting.

The annual report of AS Merko Ehitus for 2013 and the chartered auditor’s report are available for inspection at the website of NASDAQ OMX Tallinn Stock Exchange at http://www.nasdaqomxbaltic.com.

Documents related to the regular meeting of shareholders of AS Merko Ehitus, including draft resolutions, annual report for the financial year 2013, chartered auditor’s report and proposal for distribution of profits and written report, drawn up for the annual report by the Supervisory Board, are available for inspection as of April 9th 2014 at the website of AS Merko Ehitus at http://www.merko.ee/ or on working days at 10.00-16.00 at Pärnu mnt 141 Delta Plaza 7th floor, Tallinn. Questions concerning the agenda of the regular meeting can be asked by sending them to the e-mail address tallinn@merko.ee. Questions and answers will be disclosed at the website of AS Merko Ehitus on Internet.

Shareholders are entitled to be provided information concerning the business of AS Merko Ehitus from the Management Board at the regular meeting. The Management Board may refuse from giving the information, if there is a good reason to believe that this may cause material damage to the interests of the public limited company. Should the Management Board refuse to provide the information, the shareholder concerned may demand the general meeting to adopt a decision regarding the legitimacy of his/her demand or within two weeks of the general meeting occurrence file an application for proceedings on application to the court to demand the Management Board to supply the information.

Shareholders, holding shares, which represent at least 1/20 of the share capital of AS Merko Ehitus, may submit a draft resolution of each item on the agenda to the public limited company no later than 3 days prior to the general meeting, that is, until April 28th 2014, submitting it in writing to the following address: AS Merko Ehitus, Pärnu mnt 141 Delta Plaza 7th floor, 11314 Tallinn.

Shareholders, holding shares, which represent at least 1/20 of the share capital of AS Merko Ehitus, may demand that additional items are added to the agenda of the general meeting, provided that such a request has been submitted in writing at least 15 days prior to the general meeting, that is, until April 15th 2014, to the following address: AS Merko Ehitus, Pärnu mnt 141 Delta Plaza 7th floor, 11314 Tallinn.


Andres Trink
Chairman of the Management Board
+372 650 1250+372 650 1250
andres.trink@merko.ee