Decisions of the Annual General Meeting of Shareholders of AS Tallinna Vesi

Annual General Meeting of Shareholders of the Public Limited Company Tallinna Vesi was held on Thursday, 28 May 2020 at 09.00 (GMT+3)- 9.50  (GMT+3) at Paljassaare Wastewater Treatment Plant of AS Tallinna Vesi, in the Gym (Address: Paljassaare põik 14, Tallinn, Estonia). 14,364,981 votes, i.e 71,82% of total of 20 million votes were represented at the meeting.

AGENDA OF THE ANNUAL GENERAL MEETING



1. Approval of the 2019 Annual Report

DECISION: To approve the 2019 Annual Report including the balance sheet total in the amount of €262,855,000 (two hundred and sixty-two million eight hundred and fifty-five thousand) and net profit in the amount of €27,760,000 (twenty-seven million seven hundred and sixty thousand) was adopted with 14,359,581 votes in favor (ie. 99.96 % of all votes represented at the meeting).

2. Distribution of profit 



DECISION: To approve with 14,364,981 votes in favor (ie 100% of all votes represented at the meeting.



The net profit of the Company in 2019 is €27,760,000 (twenty-seven million seven hundred and sixty thousand). To distribute €20,000,600 (twenty million and six hundred) of AS Tallinna Vesi’s retained earnings of €77,512,000 (seventy-seven million five hundred and twelve thousand) as of 31/12/2019, incl. from the net profit of €27,760,000 (twenty-seven million seven hundred and sixty thousand) for the year 2019, as dividends, of which €1 (one) per share shall be paid to the owners of A-shares and €600 (six hundred) per share shall be paid to the owner of the B-share.



Remaining retained earnings will remain undistributed and allocations from the net profit will not be made to the reserve capital.

Based on the dividend proposal made by the Management Board, the Council proposes to the general meeting to decide to pay the dividends out to the shareholders on 26 June 2020. The list of shareholders entitled to receive dividends will be established as at 12 June 2020 at the closure of business day of the settlement system. Consequently, the day of change of the rights related to the shares (ex-dividend date) is set to 11 June 2020. A person acquiring the shares from 11 June 2020 onwards shall not be entitled to receive the dividends determined by this decision.



3. Extension of the terms of Supervisory Council members

DECISION 1: With14,238,849 votes in favor (ie 99.12% of all votes represented at the meeting) to extend Mrs Katrin Kendra’s term as a Supervisory Council member of AS Tallinna Vesi by two (2) years from 1 June 2020.

DECISION 2: With14,238,849 votes in favor (ie 99.12% of all votes represented at the meeting) to extend Mr Simon Roger Gardiner’s term as a Supervisory Council member of AS Tallinna Vesi by two (2) years from 4 June 2020.

DECISION 3: With14,238,849 votes in favor (ie 99.12 % of all votes represented at the meeting) to extend Mr Martin Padley’s term as a Supervisory Council member of AS Tallinna Vesi by two (2) years from 3 November 2020.

4. Election of the Auditor

DECISION: With14,364,981 votes in favor ( ie. 100% of all votes represented at the meeting) To appoint AS PricewaterhouseCoopers as the auditor for the financial year of 2020. To pay the fee to the auditor as per the contract to be entered into with the auditor.

5. CEO Update

The update made by the Chairman of the Management Board is available (slides 5-9 and 25-26).

Eliis Randver

Head of Customer Relations and Communications

AS Tallinna Vesi

Tel: (+372) 62 62 275