Tallinna Vesi acquired a subsidiary to enter the market of new products

On 28 January 2021, AS Tallinna Vesi acquired a full shareholding in the company with the business name ASTV Green Energy OÜ in the Republic of Estonia. The main business activity of the company is initially gas production. The company is a start-up and no active economic activity has been conducted.

In the longer term, the new private limited company intends to supply reusable resources, generated as a result of providing water services, as products in the green energy market. Entry to the biomethane production market is one opportunity for the future, but the analysis includes a wider range of opportunities.

The transaction is not considered a significant acquisition of shares or a transaction with persons connected to the issuer within the meaning of the section “Issuer Requirements” of the rules and regulations of NASDAQ Tallinn Stock Exchange. The transaction is not considered a transaction with persons connected with the Issuer. The members of the supervisory board and management board of AS Tallinna Vesi are not personally or in any other way interested in the transaction.

The members of the Management Board are Marjo Kallasmaa and Marti Viirmäe. The private limited company does not have a Supervisory Board.

Karl Heino Brookes

Chairman of the Management Board