Resolutions of the annual general meeting of shareholders of Coop Pank AS
The annual general meeting of shareholders of Coop Pank AS (registry code 10237832, address Maakri 30, Tallinn, 15014; hereinafter also the Company) was held on 16 April 2025 at 13:00 (Estonian time) at Mövenpick Hotel Tallinn conference room “Leiger” (Lembitu str 12, Tallinn, Estonia).
59 628 525 votes were represented at the meeting, representing 57,90% of Company's share capital, and thus the General Meeting had a quorum. 63 shareholders were represented at the meeting.
The notice of calling the general meeting was published on 19 March 2025 in the stock exchange information system and on the homepage of the Company and on 20 March 2025 in the daily newspaper “Postimees“.
The decisions of the General Meeting were as follows:
- Approval of the consolidated Annual Report 2024 of Coop Pank AS.
The General Meeting decided to approve consolidated Annual Report 2024 of Coop Pank AS submitted to the General Meeting.
The resolution was adopted by 59 625 491 votes, representing 99,99% of the votes represented at the meeting.
- Profit allocation of Coop Pank AS 2024 financial year.
To approve the proposal of the Management Board for allocating the net profit of Coop Pank AS in the amount of 32 178 thousand euros as follows:
- To transfer 1 609 thousand euros to the legal reserve.
- To pay dividends in the net amount of 7,00 eurocents per share. The list of shareholders entitled to receive dividends will be established as at 02.05.2025 COB. Consequently, the day of change of the rights related to the shares (ex-dividend date) is set to 30.04.2025. For shares acquired from this day onwards, the shareholder is not entitled to receive a dividend for the Company's 2024 financial year. Dividends shall be disbursed to the shareholders on 06.05.2025.
- To transfer the remaining part of the profit to retained earnings.
The resolution was adopted by 59 622 024 votes, representing 99,99% of the votes represented at the meeting.
- To approve the share option program of the Company for the period of 2025 – 2026 as submitted to the General Meeting.
The resolution was adopted by 59 602 431 votes, representing 99,96% of the votes represented at the meeting.
- The pre-emptive right to subscribe for new shares, issued under Article 3.3.5 of the Articles of Association, belongs to Company employees covered by the share option program, approved by the resolution of the 13 April 2022 general meeting of the Company, and with whom the Company has entered into relevant option agreements (Option Holders). To exclude the pre-emptive subscription rights of the existing shareholders for the shares issued to Option Holders in accordance with section 3.3.5 of the Articles of Association for the purpose of executing the share option program of Coop Pank AS.
The resolution was adopted by 59 604 690 votes, representing 99,96% of the votes represented at the meeting.
The minutes of the General Meeting shall be made available to the shareholders not later than within 7 (seven) days from the date of the General Meeting at Company’s website .
Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The number of clients using Coop Pank for their daily banking reached 211 000. Coop Pank aims to put the synergy generated by the interaction of retail busineass and banking to good use and to bring everyday banking services closer to people’s homes. The strategic shareholder of the bank is the domestic retail chain Coop Eesti, comprising of 320 stores.
Additional information:
Paavo Truu
CFO
Phone:
E-mail:
