Tallinna Kaubamaja Grupp AS acquires 100% of the shares of AS Walde. The transaction will be completed after receiving the necessary approvals from the contractual partners and carrying out additional actions. The share capital of AS Walde is 25.6 thousand euros (it consists of 100 shares with a nominal value of 255.60 euros). AS Walde is a wholesaler of security systems, which is a certified distributor of 2N Telekomunikace, Honeywell and Anixter equipment, among others.
The acquisition of the shareholding of AS Walde enables Tallinna Kaubamaja Grupp to further strengthen its field of security services, which has been one of the Tallinna Kaubamaja Grupp's fastest growing business lines in recent years. The transaction creates opportunities to bring new products to the market and develop security system wholesale operations. The business of Walde AS will continue in its current form, and there will be no changes in the composition of Walde AS’s employees in connection with the transaction.
The transaction cannot be considered as the acquisition of a significant share or a person related to the transaction within the meaning of the section "Requirements for Issuers" of the NASDAQ Tallinn Stock Exchange regulations, and does not have a significant impact on the operations of Tallinna Kaubamaja Grupp. The members of Tallinna Kaubamaja Grupp AS's supervisory board and management board are not personally interested in the transactions in any other way.
Raul Puusepp
Chairman of the Board
Phone: +372 731 5000
