Today, Aktsiaselts Infortar (hereinafter referred to as Infortar) acquired an additional 26,030,390 shares of AS Tallink Grupp (hereinafter referred to as Tallink), which represents 3.5% of all Tallink shares. This was a non-stock exchange transaction signed on May 14, 2024. The price per Tallink share was €0.64.
The chairman of the board of Infortar Ain Hanschmidt comments:
„Tallink is a publicly listed company with strong market position and low leverage, which is why we have consistently increased our shareholding in recent years. Tallink has gone through crises and is showing it´s best-ever financial results. At Infortar, we view Tallink as a long-term investment that effectively diversifies our portfolio. “
As a result of the transaction, Infortar does not gain control over Tallink within the meaning of Securities Market Act. The transaction is not considered to be outside the scope of ordinary economic activities or a transaction of significant importance or a related party transaction within the meaning of the Nasdaq Tallinn Stock Exchange Regulations section "Requirements for Issuers." The transaction does not have a significant impact on Infortar's operations and financial results. Members of Infortar's Supervisory Board and Management Board Members are not personally interested in the transaction in any other way.
Tallink is an associate of Infortar, after the transaction Infortar holds 46.74% of all Tallink shares. By making this transaction, Infortar is implementing the strategy described in its initial public offering and listing prospectus regarding the maritime transport business segment, which is as follows: the strategy in the maritime transportation business segment is to increase its holding in Tallink if the stock market price of Tallink’s share favourable and regulatory requirements is allow it.
Infortar operates in six countries, the company's main fields of activity are energy, maritime transport, and real estate. Infortar owns a 46,7% stake in AS Tallink Grupp, a 100% stake in AS Eesti Gaas and a versatile and modern real estate portfolio of approx. 113,000 m2. In addition to the three main areas of activity, Infortar also operates in construction and mineral resources, agriculture, printing, taxi business and many other areas. A total of 103 companies belong to the Infortar group: 48 subsidiaries, 5 affiliated companies and 50 subsidiaries of affiliated companies. Excluding affiliates, Infortar employs 1,325 people.
Additional information:
Kadri Laanvee
Investor Relations Manager
e-mail: kadri.laanvee@infortar.ee
phone: +372 5156662
https://infortar.ee/en/investor
