The management board of Nordecon AS announces of the acquisition of holdings in two companies.
On 6 February 2015 Nordecon AS acquired a 60% shareholding in the private limited company SweNCN OÜ through entry into the foundation agreement of the company. Luksusjaht AS acquired a 40% shareholding in the private limited company.
Luksusjaht AS holds a 9,8499% shareholding in Nordecon AS. The sole shareholder of Luksusjaht AS Sven Lennart Alpstål, holds a 0,0917% shareholding in Nordecon AS.
The planned principal activity of SweNCN OÜ is the construction of residential buildings and non-residential buildings predominantly in Central-Sweden through a wholly owned subsidiary to be founded in Sweden.
At the time of foundation the share capital of SweNCN OÜ was 2500 euros.
The purpose of acquiring the shareholding by Nordecon AS is to carry out a market-research and to prepare for a potential expansion to a new geographical market.
On 3 February 2015 Nordecon AS acquired a 46%-holding in the private limited company Embach Ehitus OÜ through entry into the foundation agreement of the company.
The planned principal activity of Embach Ehitus OÜ is to operate as a contractor in the field of construction of buildings. The activity of the company is mainly concentrated to provision of services to private customers for construction and development projects in Southern Estonia.
At the time of foundation the share capital of Embach Ehitus OÜ was 2500 euros.
The purpose of acquiring a shareholding in Embach Ehitus OÜ by Nordecon AS is to react flexibly to the changing situation at the construction market and to step closer to potential clients.
The acquisitions of holdings in SweNCN and Embach Ehitus OÜ do not constitute the significant acquisition or transfer of holdings in the meaning of the Requirements for Issuers of NASDAQ OMX Tallinn Stock Exchange Rules. The transactions made to acquire holdings do not constitute related party transactions for the purposes of the Requirements for Issuers. The members of the supervisory board and the members of the management board do not have personal interest in the transactions.
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 Board
Tel: +372 615 4400
Email: jaano.vink@nordecon.com
www.nordecon.com