Financial management and investor relations in Nordecon starting from 1 July 2014

| Source: Nordecon

Tallinn, Estonia, 2014-06-11 16:00 CEST (GLOBE NEWSWIRE) -- Starting from 1 July 2014 the persons responsible for financial management and investor relations in Nordecon will change.

The financial management of Nordecon AS and the group will become the responsibility of Maret Tambek who until the change has been the chief accountant of Nordecon group (short CV attached to this announcement). Maret Tambek has been working in the Nordecon group since 2007. Maret Tambek has zero Nordecon AS’ shares.

The investor relations of Nordecon AS will become the responsibility of Andri Hõbemägi who has held the same position during May 2006 – July 2007 (at that time as AS Eesti Ehitus) prior to becoming the chief analyst for Nordecon AS’ main shareholder AS Nordic Contractors. Since May 2008 Andri Hõbemägi has been the member of Nordecon AS’ council. Andri Hõbemägi has been working in Nordecon group since 2002. Andri Hõbemägi has 50,000 Nordecon AS’ shares.

The current head of finance and investor relations of Nordecon group Raimo Talviste who holds the position from April 2008 (head of finance from October 2009) will leave on his own initiative as of 30 June 2014. He will not take on any other positions in Nordecon group.


Nordecon 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 and Finland. The parent of the Group is Nordecon AS, a company registered and located in Tallinn, Estonia. In addition to the parent company, there are more than 10 subsidiaries in the Group. The consolidated revenue of the Group in 2013 was 174 million euros and net profit 4.6 million euros. Currently Nordecon Group employs more than 700 people. Since 18 May 2006 the company's shares have been quoted in the main list of the NASDAQ OMX Tallinn Stock Exchange.

         Jaano Vink
         Nordecon AS
         Chairman of the Management Board
         Tel: +372 615 4400