Market announcement
Arco Vara AS
LEI code
097900BHCB0000066171
Size of the entity
Small group
Economic activities
Professional, Scientific and Technical Activities
Country of registered office
Estonia
General information
Categories
Other corporate action
Unique data record identifier
10020
Submission date and time
22.12.2022 09:00:00
Content of announcement in Estonian
Title
Arco Vara AS tegevjuhi volituste pikendamine
Message
Seoses Arco Vara AS juhatuse liikme Miko-Ove Niinemäe volituste lõppemisega 30.04.2023, otsustas Arco Vara AS nõukogu pikendada Miko-Ove Niinemäe volitusi uueks põhikirjajärgseks perioodiks kuni 10.04.2026. Nõukogu esimehe Tarmo Silla kommentaar: ?Ettevõte on kasumlik, maksab dividende, on hästi kapitaliseeritud. Meeskond töötab. Arco Vara hangib maa, planeerib, projekteerib ja ehitab ise. Oleme investoritena valmis ettevõttesse raha juurde panema, kui see on vajalik. Koostöö pankadega on mõlemas Arco Vara riigis hea. Seetõttu on Miko Niinemäe lepingu pikendamine loogiline ja oluline element Arco Vara strateegia elluviimise." Samuti lisas Sild: ?Arco Vara nõukogu on seadnud ettevõtte järgmise kolme aasta eesmärgiks bilansimahu kasvatamise 100 miljoni euroni ja aastatulu tõstmise üle 25 miljoni euro. Omakapitali tootlus seejuures võiks tõusta 20% juurde. Maakeeli tähendab see stabiilselt lähemalt 200 korteri kasumlikku müümist aastas. Selleks omakorda on vaja ehitada 200 korterit, projekteerida 200 korterit, detailplaneerida 200 korterit ja osta maad juurde vähemalt 200 korteri jagu aastas. Seda kõike samaaegselt, Eestis ja Bulgaarias. Selleks omakorda on vaja tööle panna võimekas meeskond ning hoida investorite usaldust." Tiina Malm Finantsjuht Arco Vara AS Tel: +372 614 4630 [email protected] (https://www.globenewswire.com/Tracker?data=r3a_Jpj17cfdSxB2Ctcc2ZwCDU1UPe45pNvN gPXr8LI8vqTYotwly4sFXaMskCIMHt7W8mAOBniwIsoBnfCFyMdvK2ph4yrggrzZSKCtGSA=)
Content of announcement in English
Title
Arco Vara AS extends CEO’s term of office
Message
In connection with the expiry of the term of office of Arco Vara AS's Management Board member Miko-Ove Niinemäe on 30 April 2023, the Supervisory Board of Arco Vara AS has decided to extend the term of office of Miko-Ove Niinemäe in the new statutory period until 10 April 2026. Commenting the announcement, Supervisory Board chairman Tarmo Sild said: "The company is profitable, pays dividends and is well capitalised. The team is working. Arco Vara does its own land acquisition, planning, designing and building. As investors we are ready to invest more in the company if necessary. Cooperation with banks is good in both countries where Arco Vara operates. Therefore, the extension of the contract of Miko Niinemäe is a logical and significant step in implementing the strategy of Arco Vara." Sild added: "The Supervisory Board of Arco Vara has set for the company a three- year goal to increase the balance sheet volume to EUR 100 million and to increase the annual revenue to more than EUR 25 million. The return on equity should reach around 20 percent. This means stable and profitable sale of about 200 units of apartments a year. In addition, one needs to build 200 units, design 200 units, detail plan 200 units and buy land for at least 200 units a year in both Estonia and Bulgaria. To achieve this, one needs to have a capable team and maintain investor confidence." Tiina Malm CFO Arco Vara AS Tel: +372 614 4630 [email protected]