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
3912
Submission date and time
04.02.2013 17:02:39
Content of announcement in Estonian
Title
Arco Vara ühisettevõte Tivoli Arendus ütles üles projekteerimis- ja ehitustööde töövõtulepingu Nordeconiga
Message
22.05.2012 avaldatud börsiteates teavitas Arco Vara, et tema 100%-lise tütarettevõtte Arco Investeeringute AS-i 50%-se osalusega ühisettevõte Tivoli Arendus OÜ ja Nordecon AS sõlmisid lepingu korterelamute ja sinna juurde kuuluvate välisrajatiste projekteerimis- ja ehitustööde teostamiseks maaüksusel endise aadressiga Narva mnt 67, Tallinn. Lepingu maht oli ligikaudu 13,0 mln eurot, millele lisandus käibemaks. 01.02.2013 ütles Tivoli Arendus üles projekteerimis- ja ehitustööde töövõtulepingu Nordeconiga, kuna Nordecon rikkus oluliselt lepingust tulenevaid kohustusi. Tivoli Arendus OÜ osalus jaguneb võrdselt Arco Investeeringute AS-i ja International Invest Project OÜ vahel. Egert Paulberg Finantskontroller Arco Vara AS Tel: +372 614 4503 [email protected]
Content of announcement in English
Title
Arco Vara’s joint venture Tivoli Arendus OÜ cancels a design and build contract with Nordecon AS
Message
In the stock exchange release of 22 May 2012, Arco Vara announced that Tivoli Arendus OÜ, which is a 50% joint venture of Arco Vara’s wholly-held subsidiary Arco Investeeringute AS, and Nordecon AS had signed a contract on the design and build of apartment buildings and associated outdoor facilities on a plot with the former address Narva mnt 67, Tallinn. The value of the contract was approximately 13.0 million euros plus VAT. On 1 February 2013, Tivoli Arendus OÜ cancelled the construction contract with Nordecon AS because the latter substantially breached its contractual obligations. The shareholders of Tivoli Arendus OÜ are, in equal proportions, Arco Investeeringute AS and International Invest Project OÜ. Egert Paulberg Financial Controller Arco Vara AS Tel: +372 614 4503 [email protected]