Tallinn, 2014-10-16 10:39 CEST (GLOBE NEWSWIRE) --
The 24th of April 2014 shareholders meeting of AS Tallinna Moekombinaat (hereinafter Subsidiary) adopted the resolution to increase the share capital of the Subsidiary.
The fourth and final subscription of the share capital increase ended on 14th of October 2014. During the subscription period the Subsidiary raised 457 724 euro of which 346 349 euro was the payment for the B-shares of the Subsidiary and 111 375 euro was the loan granted by the subscriber. After the last subscription the participation of AS Pro Kapital Grupp in the share capital of AS Tallinna Moekombinaat remains equal to 93,1%.
Paolo Michelozzi, CEO of AS Pro Kapital Grupp commented on the results of the subscription: "The results of the subscription were as expeted allowing us to finish in time the excavation works of the foundation of the shopping centre. We continue with the projecting works as planned and are finalizing the tender negotiations with the leading construction companies for choosing the main constructor for the project.“
AS Pro Kapital Grupp shall inform the investors of the following steps of the development of the shopping centre project.
Additional information:
AS Tallinna Moekombinaat is a company established on 05.03.2008, the main field of activity of the company is the development of shopping center located on Peterburi road 2 Tallinn land plot. The planned shopping centre is one of the most dynamic shopping developments in the Baltics, located on the largest and most modern traffic junction in Tallinn within just a few minutes by car from the city centre and at the starting point of motorways to Tartu, Narva and Pärnu. The Shopping Centre shall accommodate more than 200 shops on ca 55,000 m² of GLA with the anchor tenant Selver hypermarket on ca 6000 m². The shopping centre will become part of the future major public transportation hub in Tallinn. The hub is the most important infrastructural development for the city in the coming years and shall feature, in addition to local connections, a transfer to the airport and the future Rail Baltica international train station.
Iveta Vanaga
Head of Investor Relations
Phone: +37129239064
E-mail: iveta@prokapital.lv