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 price sensitive information
Unique data record identifier
3826
Submission date and time
16.10.2012 14:09:57
Content of announcement in Estonian
Title
16.10.2012: Arco Vara uus juhatuse liige on Tarmo Sild
Message
Arco Vara AS-i uus juhatuse liige on Tarmo Sild. Arco Vara AS nõukogu on otsustanud tagasi kutsuda ettevõtte senise juhatuse liikme Lembit Tampere ja nimetada kontserni uueks juhatuse liikmeks Tarmo Silla (37). Arco Vara juhatus on üheliikmeline. Vastavalt nõukogu otsusele hakkavad Tarmo Silla volitused kehtima 22.oktoobrist, samal päeval lahkub Lembit Tampere Arco Vara juhatusest. Lembit Tampere kutsutakse tagasi kõigist Arco Vara tütar- ja sidusettevõtete nõukogudest ning juhatustest. Juhatuse liikme vahetumine on seotud käesoleva aasta jooksul toimunud muudatustega ettevõtte nõukogus, kes on otsustanud oma nägemuse elluviimiseks kaasata uue juhataja. Nõukogul on tekkinud olulisi ja veel lahenduseta küsimusi Arco Vara kontserni kuuluvate ettevõtete bilansi ja osade kontserni ettevõtete äriplaani jätkusuutlikkuse osas, eriti ehituse valdkonnas ja väljaspool Eestit toimivate üksuste tegevuse suhtes. Juhatusel tuleb kiiresti ja kriitiliselt analüüsida kontserni kesiste majandustulemuste põhjuseid ning teha neist järeldused. Nõukogu hinnangul peab Arco Vara kontsern suutma leida uusi arendusvõimalusi ja tõstma turul nõutud arenduste mahtu ja tempot, et püsida konkurentsis ning olla aktsionäridele õigustatud investeering. Nõukogu ei välista, et juhatusel tuleb osasid kontserni varasid alla hinnata, samuti leida täiendavaid võimalusi üldkulude kärpimiseks ja juhtimise tõhustamiseks. Tarmo Silla ülesanne on Arco Vara grupi stabiliseerimine, restruktureerimine ja refinantseerimine ning Arco Vara kontserni viimine kasumisse, keskendudes ennekõike kinnisvaraarenduse valdkonnale. Tarmo Sild ei oma Arco Vara AS-i aktsiaid. Vastavalt sõlmitavale kokkuleppele on aktsiaoptsioon üks motiveerimispaketi osa. Tarmo Silla lühike CV Haridus: Tartu Ülikool; õigusteaduskond B.A.; 1998 Helsingi Ülikool; õigusteaduskond, täiendõpe; 1997 – 1998 Vrije Universiteit Brussel; PILC; LL.M kiitusega; 1999 Töökogemus: 1998 – 2003 Advokaadibüroo HETA, vandeadvokaat ja juhatuse liige 2003 – 2012 Advokaadibüroo LEXTAL asutaja, vandeadvokaat, juhatuse liige, nõunik Alates 2000 – MFV Lootus OÜ asutaja, juhatuse liige Alates 2008 – AS IuteCredit Europe asutaja, juhatuse liige. Egert Paulberg Finantskontroller Arco Vara AS Tel: +372 614 4503 [email protected] http://www.arcorealestate.com
Content of announcement in English
Title
16.10.2012: Tarmo Sild is the new member of the management board of Arco Vara
Message
Tarmo Sild is the new member of the management board of Arco Vara AS. The supervisory board of Arco Vara AS has decided to recall the company’s present member of the management board Lembit Tampere and to appoint Tarmo Sild (37) as the group’s new member of the management board. Arco Vara has a one-member management board. According to the resolution of the supervisory board, the powers of Tarmo Sild will take effect as of 22 October. Lembit Tampere will step down from the management board of Arco Vara on the same day. Lembit Tampere will be removed from all supervisory and management boards of the subsidiaries and associates of Arco Vara. The change of the member of the management board is related to changes that have taken place during the year on the supervisory board, which has resolved to appoint a new CEO to implement its vision. The supervisory board has some significant and unresolved questions about the balance sheets of various entities of Arco Vara group and the sustainability of the business plans of some group companies, particularly as regards the construction division and foreign operations. The management board has to analyse the reasons for the group’s poor performance promptly and with due care and to draw appropriate conclusions. The supervisory board is of the opinion that Arco Vara group has to seek new development opportunities and to increase the volume and pace of developments for which there is market demand so as to remain competitive and to be a justified investment for the shareholders. The supervisory board does not rule out the possibility that the management board may have to write down some of the group’s assets and to implement additional measures for cutting overheads and improving management efficiency. Tarmo Sild has been assigned to stabilise, restructure and refinance Arco Vara group and to restore the group’s profitability, particularly in the area of real estate development. Tarmo Sild has no shares in Arco Vara AS. According to his contract, share options will be part of the motivation package. Brief CV of Tarmo Sild Education: University of Tartu; Faculty of Law, B.A.; 1998 University of Helsinki; Faculty of Law, further studies; 1997-1998 Vrije Universiteit Brussel; PILC; LL.M (cum laude); 1999 Work experience: 1998 – 2003 Law office HETA, attorney at law and member of the management board 2003 – 2012 Law office LEXTAL, founder, attorney at law, member of the management board, counsel Since 2000 – MFV Lootus OÜ, founder, member of the management board Since 2008 – AS IuteCredit Europe, founder, member of the management board Egert Paulberg Financial Controller Arco Vara AS Tel: +372 614 4503 [email protected] http://www.arcorealestate.com