Public offering of additional shares of Arco Vara AS (10261718) to the existing shareholders of Arco Vara AS took place from 29.12.2017 to 15.01.2018. In the course of the offering, 93% of all the offer shares were subscribed for by investors having subscription right. In total, 2,491,355 shares in the amount of EUR 3.74 million were subscribed for.

Arco Vara AS has decided on the allocation of subscribed shares to the investors. All investors having subscription right will receive the full amount of shares they subscribed for. The new shares will be transferred to the investors’ securities accounts on or about 18.01.2018. The shares which were not subscribed for, i.e. 178,645 shares, were cancelled by the resolution of the management board of Arco Vara AS on 16.01.2018.

As a result of the subscription of new shares, the share capital of Arco Vara AS will be increased by EUR 1,743,948.50 and the new share capital will be EUR 6,298,856.90, divided into 8,998,367 shares.

CEO’s comment on the subscription results: “The management is grateful to the shareholders for the successful share issue. The increased equity will allow us to carry out all planned real estate developments in Bulgaria and in Estonia. We will expand significantly the business volume of Arco Vara and increase its profit within next three years.“

The existing shares of Arco Vara AS are listed and admitted to trading on the Baltic Main List of the Nasdaq Tallinn Stock Exchange. Arco Vara AS has submitted the application for the listing and admission to trading of the new shares on the same market. Upon the approval of the application, the expected date of listing and admission to trading of the new shares is on or about 25.01.2018.

The shareholders holding more than 5% of the shares of Arco Vara AS subscribed for 88% of all the offer shares.

Two companies controlled by the members of the management and supervisory boards participated in the offering:

-       OÜ Alarmo Kapital (a company under the control of Mr Tarmo Sild, the member of the management board, and Mr Allar Niinepuu, a member of the supervisory board) subscribed for 1,501,600 shares, as a result of which it will be holding 2,517,405 shares, representing 27.98% of the aggregate of votes represented by the shares of Arco Vara AS;

-       AS Lõhmus Holdings (a company under the control of Mr Rain Lõhmus, a member of the supervisory board) subscribed for 247,622 shares, as a result of which it will be holding 850,000 shares, representing 9.44% of the aggregate of votes represented by the shares of Arco Vara AS.

         Kristel Tumm
         CFO
         Arco Vara AS
         Tel: +372 614 4662
         kristel.tumm@arcovara.ee