The annual general meeting of shareholders of EfTEN Real Estate Fund AS was held
on 02 April 2024 in the Radisson Collection Hotel Conference Center (2nd floor,
Tallinn, Rävala 3).
A total of 163 shareholders attended the meeting representing 7,623,639 votes,
i.e. 70.46% of the total votes were represented. Of the participants, 4
shareholders representing 8 301 votes, i.e. 0.08% of all votes attached to the
shares, casted their votes electronically before the meeting in accordance with
the electronic voting procedure announced in the invitation to the meeting. The
meeting therefore had a quorum.
The decisions of the annual general meeting were as follows:
Approval of the Fund's annual report for 2023
With 7,264,141, i.e. 95.28% votes in favour, the shareholders decided to approve
the annual report of EfTEN Real Estate Fund AS for the financial year 2023 as
submitted to the general meeting. No shareholders voted against the decision.
359,498 votes, i.e. 4.72% did not participate in the voting.
Distribution of profit
With 7,264,026, i.e. 95.28% votes in favour, the shareholders decided to approve
the profit distribution proposal: The consolidated net profit of the 2023
financial year of the fund is 1 000 thousand euros. To distribute the
undistributed profit as of 31 December 2023 in the total amount of 23 030
thousand euros as follows:
Transfers to the reserve capital: 50 thousand euros.
Profit to be distributed between the shareholders (net dividend): 10 820
thousand euros (1 euro per share).
Transfers to other reserves shall not be made and profit shall not be used for
any other purposes.
Amount of undistributed profit after transfers is 12 160 thousand euros.
The list of shareholders entitled to dividends shall be fixed on 17.04.2024
(record date) as at the end of the working day of the registrar of the
settlement system of the fund's securities. Therefore, the date of change in the
rights attaching to shares (ex-date) is 16.04.2024. As of this date a person who
acquired shares is not entitled to dividends for the 2023 financial year.
Dividend shall be paid to the shareholders on 24.04.2024 by way of bank transfer
to the shareholder's bank account.
No shareholders voted against the decision. 359,613 votes, i.e. 4.72% did not
participate in the voting.
During the discussion following the agenda items, the management board informed
about the new share issue plan, presumably in the fall. The capital previously
raised has all been invested. The schedule of the potential share issue, the
issue price or any other conditions have not been set. If the plan to issue new
shares will be decided, the fund will publish such information as a stock
exchange announcement.
The minutes of the general meeting shall be made available on the fund's website
(https://eref.ee/investorile/uldkoosolekud/) not later than 7 days after the
meeting.
Viljar Arakas
Member of the Management Board
Phone 655 9515
E-mail: viljar.arakas@eften.ee (mailto:viljar.arakas@eften.ee)
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