Adjustments to the structure of the group’s subsidiaries (Finland, Latvia)

As a result of a regular review of the structure of the AS Merko Ehitus group, it was decided to terminate the subsidiaries OY Merko Finland (Finland, construction and development) and PS “Merko Merks” (Latvia, joint offers for construction), 100% of which belong to the group, due to the lack of activity in those companies. At the same time, it was decided to establish construction company Merko Būve in Latvia, a subsidiary owned 100% by the group, in order to strengthen specialisation and brand unification.

The terminations and foundations set out in the notice have negligible effect on the activities of as Merko Ehitus, nor are these transactions regarded as transactions with related parties within the meaning of the section “Requirements for Issuers” of the rules of the stock exchange organised by NASDAQ OMX Tallinn AS. Members of the board and supervisory board of as Merko Ehitus have no economic interest in the transactions.

Urmas Somelar

Head of Finance

AS Merko Ehitus

AS Merko Ehitus () group companies develop real estate and construct buildings and infrastructure. We create a better living environment and build the future. We operate in Estonia, Latvia, Lithuania and Norway. As at the end of 2021, the group employed 670 people, and the group’s revenue for 2021 was EUR 339 million.