30.11.2018
As at 30.09.2018, AS Trigon Property Development owned one development project
with an area of 22,39 hectares in the City of Pärnu, Estonia. An industrial and
logistics park is planned to be developed on this area. The Company's objective
is to find companies willing to bring their business activities (industry,
logistics) to the development project area of AS Trigon Property Development in
Pärnu, which would add value to the land plots owned by the Company. The
realisation of the value of the land is planned through the selling of land
plots or through the development of real estate with the intention of creating a
rental income-generating project.
Condensed statement of financial position as of 30 September 2018 delivered by
the present announcement completely reflects the assets, liabilities and equity
capital of AS Trigon Property Development.
According to the condensed statement of comprehensive income the net loss for
first 9 months of 2018 of AS Trigon Property Development is -17,820 euros and
the earnings per share is -0.00396 EUR.
As of 30 September 2018 the assets of AS Trigon Property Development were
1,804,122 euros. The equity of the company was 1,799,878 euros, corresponding to
99.76 % of the total balance sheet.
Condensed statement of financial position
+------------------------------+------------+------------+
| EUR | 30.09.2018 | 31.12.2017 |
+------------------------------+------------+------------+
| Cash | 11,625 | 78,106 |
+------------------------------+------------+------------+
| Receivables and prepayments | 1,023 | 9,231 |
+------------------------------+------------+------------+
| Total current assets | 12,648 | 87,337 |
+------------------------------+------------+------------+
| Investment property | 1,791,474 | 1,791,474 |
+------------------------------+------------+------------+
| Total non-current assets | 1,791,474 | 1,791,474 |
+------------------------------+------------+------------+
| TOTAL ASSETS | 1,804,122 | 1,878,811 |
+------------------------------+------------+------------+
| Payables and prepayments | 4,244 | 61,113 |
+------------------------------+------------+------------+
| Total current liabilities | 4,244 | 61,113 |
+------------------------------+------------+------------+
| Total liabilities | 4,244 | 61,113 |
+------------------------------+------------+------------+
| Share capital at book value | 2,299,020 | 2,299,020 |
+------------------------------+------------+------------+
| Share premium | 226,056 | 226,056 |
+------------------------------+------------+------------+
| Statutory reserve capital | 287,542 | 287,542 |
+------------------------------+------------+------------+
| Accumulated loss | -1,012,740 | -994,920 |
+------------------------------+------------+------------+
| Total equity | 1,799,878 | 1,817,698 |
+------------------------------+------------+------------+
| TOTAL LIABILITIES AND EQUITY | 1,804,122 | 1,878,811 |
+------------------------------+------------+------------+
Condensed statement of comprehensive income
+-----------------------------------------+----------+----------+
| EUR | 9 M 2018 | 9 M 2017 |
+-----------------------------------------+----------+----------+
| Expenses related to investment property | -6,648 | -28,616 |
+-----------------------------------------+----------+----------+
| Gross loss | -6,648 | -28,616 |
+-----------------------------------------+----------+----------+
| Administrative and general expenses | -11,173 | -31,539 |
+-----------------------------------------+----------+----------+
| Operating loss | -17,821 | -60,155 |
+-----------------------------------------+----------+----------+
| Net financial income | 1 | 26 |
+-----------------------------------------+----------+----------+
| NET LOSS FOR THE PERIOD | -17,280 | -60,129 |
+-----------------------------------------+----------+----------+
| TOTAL COMPREHENSIVE LOSS | -17,280 | -60,129 |
+-----------------------------------------+----------+----------+
Joakim Helenius
Chairman of the Supervisory Board
+372 667 9200
Attachment
* 2018 III Q interim ENG (https://prlibrary-
eu.nasdaq.com/Resource/Download/8055e56e-3a70-4f6b-8e9f-10c62ea68301)
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