Announcement View
Company Hepsor AS
Type Company Release
Category Other corporate action
Publicize date 19 Jan 2022 17:34:27 +0200
Kell English
Title Division of Hepsor P26B OÜ, subsidiary of property development company Hepsor AS
Shareholders  of Hepsor  P26B OÜ,  a subsidiary  of property development company
Hepsor  AS, approved the company's notarized  division plan on 7 December 2021.
Hepsor  AS holds 51% of Hepsor P26B OÜ, a company established for development of
Lauluväljaku  Lilleaia project.  The project  included three  buildings with 99
apartments and was developed in two phases. All 99 apartments of the development
that was competed in 2021 have been sold.

Hepsor  P26B  OÜ  has  achieved  its  operational  objectives  by completing the
construction of Lauluväljaku Lilleaed project and was divided in accordance with
the  shareholders'  agreement  signed  in  2019. Upon division Hepsor P26B shall
transfer  the  assets  in  the  amount  of  2.1 million  euros  to six acquiring
companies.  Hepsor AS  will acquire  100% of Hepsor  P26B OÜ  post division. The
division will reduce consolidated comprehensive income of financial year 2021 by
1.8 million euros. The division is tax neutral.

The transaction should not be considered a transfer or acquisition of qualifying
holding  and  a  transaction  with  related  party  within  the  meaning  of the
"Requirements for Issuers" regulation of NASDAQ Tallinn Stock Exchange.

Anneli Simm
Head of Investor Relations
Phone: +372 5615 7170

Hepsor AS (www.hepsor (http://www.hepsor).ee) is one of the fastest growing
residential and commercial real estate developers in Estonia and Latvia. Over
the last ten years Hepsor has developed more than 1,300 apartments and 15,000 m2
of commercial area. Hepsor has been the first real estate developer in the
Baltic States to implement a number of innovative engineering solutions that
make the buildings we construct more energy-efficient and thus more
environmentally friendly. The company's portfolio is comprised of 26 development
projects with a total rentable and sellable area of approximately 186,000 m(2).