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
3911
Submission date and time
04.02.2013 13:56:57
Content of announcement in Estonian
Title
Arco Vara sidusettevõtte Arco HCE OÜ suhtes on alustatud täitemenetlust
Message
Danske Bank A/S-i üle 12 mln euro suuruse pangalaenu sissenõudmiseks on alustatud täitemenetlust Arco Vara AS-i 100%-lise tütarettevõte Arco Investeeringute AS-i 50%-se osalusega ühisettevõtte Arco HCE OÜ suhtes. Täitemenetluse objektiks on Danske Bank’i kasuks seatud hüpoteek kinnistule Ahtri 3, Tallinn. Arco Investeeringute AS on käendanud Arco HCE pangalaenu summas 1 917 349,46 eurot. Käenduse summa on 31.12.2012 seisuga täies ulatuses provisjoneeritud. Seetõttu ei avalda täitemenetlus mõju kontserni finantsseisundile ja kasumiaruandele. Arco HCE juhatus ja osanikud ei pea täitemenetluse alustamist õiguspäraseks. Arco HCE on projektiettevõte Ahtri tn 3 kinnistu arendamiseks. Ettevõtte ainus vara on Ahtri 3 kinnistu. Arco HCE osanikud on kinnistu arendamisesse aastatel 2007-2012 investeerinud üle 20 mln euro ning arendustöö on jätkuv. Arco HCE osalus jaguneb võrdselt Arco Investeeringute AS-i ja U.S. Real Estate Management OÜ vahel. Egert Paulberg Finantskontroller Arco Vara AS Tel: +372 614 4503 [email protected]
Content of announcement in English
Title
Enforcement proceedings instituted against Arco Vara’s associate Arco HCE OÜ
Message
To recover a loan of over 12 million euros, Danske Bank A/S has initiated enforcement proceedings against Arco HCE OÜ, which is a 50% subsidiary of Arco Investeeringute AS that is a wholly-held subsidiary of Arco Vara AS. The object of the proceedings is to exercise a mortgage created for the benefit of Danske Bank on a property located at Ahtri 3 in Tallinn. Arco Investeeringute AS has agreed to stand surety for the bank loan of Arco HCE to the extent of 1,917,349.46 euros. As at 31 December 2012 the entire amount of the surety was provided for. Accordingly, the enforcement proceedings will have no impact on the group’s financial position or financial performance. The management board and shareholders of Arco HCE are of the opinion that the initiation of the enforcement proceedings was not legitimate. Arco HCE is a project company established for the development of a property at Ahtri 3 in Tallinn. The company’s only asset is the property at Ahtri 3. From 2007 to 2012 the shareholders of Arco HCE invested over 20 million euros in the development of the property and the development operations are still in progress. The shares in Arco HCE are held, in equal proportions, by Arco Investeeringute AS and U.S. Real Estate Management OÜ. Egert Paulberg Financial Controller Arco Vara AS Tel: +372 614 4503 [email protected]