Market announcement
Järvevana
General information
Categories
Management interim statement or quarterly financial report
Unique data record identifier
3936
Attachments
Submission date and time
27.02.2013 16:00:00
Content of announcement in Estonian
Title
2012. aasta 12 kuu ja IV kvartali auditeerimata vahearuanne
Message
Eesti, Tallinn, 2013-02-27 15:00 CET (GLOBE NEWSWIRE) --
TEGEVUSARUANNE
Üldinfo
Ettevõtte moodustus jagunemisel ASist Järvevana, mille tulemusena eraldati ning
anti üle ASile Merko Ehitus kogu ehitusettevõtte majandustegevusega seotud
varakogum, sh kõik sõlmitud ehitus-, alltöövõtu- ja tarnelepingud, tehnika,
seadmed ja töötajad, kogu erialane oskusteave ja rahavood katkematult jätkuvast
majandustegevusest, va kriminaalasjast nr 05913000055 tulenevad kohustused,
sealhulgas tasumisele kuuluvad kahjuhüvitised, trahvid ning muud nõuded,
kohtukulud ja kriminaalasjast tulenevate võimalike kohustuste kattevarad
kogusummas 16 mln euro ulatuses likviidseid varasid. Ettevõttel puudub
tavapärane majandustegevus ning tema tegevuse ainsaks eesmärgiks on ettevõtte
ning aktsionäride huvide kaitsmine pikaleveninud maadevahetuse kriminaalasjas.
31.12.2012 seisuga töötas ettevõttes üks inimene – juhataja Toomas Annus.
Ettevõtte tegevusel puudub sesoonne ja tsükliline eripära.
Äritegevus
3. aprillil 2009 esitas Riigiprokuratuur ASile Järvevana ja Toomas Annusele
süüdistusakti, (mis kannab 31.03.2009 kuupäeva) maadevahetuse kriminaalasjas
nr. 05913000055
(http://www.nasdaqomxbaltic.com/market/?pg=news&news_id=232811).
12. novembril 2009 algas Harju Maakohtus „maadevahetuse“ süüdistusasja nr
1-09-4486 kohtuprotsess.
Kohtuprotsessi ülevaade:
http://www.nasdaqomxbaltic.com/market/?pg=details&instrument=EE3100003559&list=3
&tab=news&news_id=238400.
Süüdistusaktis inkrimineeriti ASile Järvevana viis episoodi altkäemaksu andmist
KaRS § 298 järgi ning asja menetles Harju Maakohus esimese astme kohtuna.
Altkäemaksu andmise süüdistuse tõendamisesemesse kuulub kolm elementi,
milledest kasvõi ühe puudumine välistab kuriteokoosseisu: (i) ametiisikule
materiaalse väärtuse hüve lubamine või üleandmine; (ii) ametiisiku poolne
ebaseaduslik tegu altkäemaksu andja kasuks; (iii) ekvivalentsussuhe esimese ja
teise elemendi vahel, s.o. hüve andmine ametiisikule soodsa teo eest. ASi
Järvevana suhtes kuulub tõendamisele ka see, et (iv) teo pani toime juriidilise
isiku juhtivtöötaja ja (v) tegu pandi toime juriidilise isiku huvides. AS
Järvevana ei ole teinud ühtegi süüdistusaktis kirjeldatud maadevahetuse
tehingut. Vastavaid tehinguid tegid ja hüpoteetilist kasu võisid saada hoopis
iseseisvatest juriidilistest isikutest tütarettevõtted, kellele ei ole
süüdistust esitatud. AS Järvevana ei ole aga kunagi maid vahetanud ka
süüdistuse kohaselt. Samuti on ilmne, et teod ei saanud olla ebaseaduslikud,
kuna need olid lubatud LKS § 19 alusel, mis välistab altkäemaksu
kvalifikatsiooni. On tõendatud (ja esimese astme kohtuotsusega tuvastatud), et
samadel alustel ja korras tehti erinevate isikute poolt enam kui 180 samasugust
seaduslikku tehingut. Süüdistusaktiga ja otsusega tuvastati kahju ja
tsiviilhagi puudumine.
19. juunil 2012 toimus Harju Maakohtus maadevahetuse kriminaalasja viimane
istung, kus kohus mõistis ASi Järvevana ja Toomas Annuse täielikult õigeks
maadevahetuse kriminaalasjas nr 1-09-4486 ning mõistis riigilt ASi Järvevana
õigusabi kulude katteks välja 611 810 eurot.
Kohus tuvastas kategooriliselt, et AS Järvevana ja Toomas Annus pole
kuritegusid toime pannud, kõik asjassepuutuvad maadevahetuse tehingud olid
seaduslikud, samuti et Kaitsepolitseiamet ja Prokuratuur on oluliselt rikkunud
seadust, põhiseadust ja Euroopa Inimõiguste ja Põhivabaduste kaitse
konventsiooni. Kaalutletud kohtuotsus saavutati kolmeaastase põhjaliku ja
vahetu menetluse tulemusena, kus muuhulgas kuulati üle umbes 120 tunnistajat.
Õigeksmõistev otsus oli ühehäälne ja selle poolt olid ka rahvakohtunikud.
Prokuratuur on maadevahetuse kohtuasja esimeses kohtuastmes langetatud
õigeksmõistva kohtuotsuse peale esitanud apellatsioonikaebuse, milles nõutakse
Harju Maakohtu õigeksmõistva otsuse tühistamist ja uue süüdimõistva otsuse
tegemist või alternatiivina otsuse tühistamist ning asja saatmist esimese astme
kohtusse uueks arutamiseks. Tallinna Ringkonnakohus arutas prokuratuuri
apellatsioonikaebust ja kaitsjate apellatsioonivastust perioodil 14. jaanuar
2013 kuni 5. veebruar 2013. AS Järvevana kaitsja esitas kohtule põhjalikud
kaitsekõne teesid rõhutades primaarselt seda, et kuritegusid pole toime pandud,
viidates sekundaarselt olulistele menetlusrikkumistele kohtueelse menetleja ja
prokuratuuri tegevuses, paludes õigeksmõistev otsus jõusse jätta. Tallinna
Ringkonnakohus teeb maadevahetuse kohtuasjas otsuse 19. juunil 2013. Teise
astme kohtuotsus on Riigikohtusse kaevatav. Võttes arvesse asja erakordset
mahtu ja keerukust pole kindel, kas jõustunud otsuseni jõutakse 2013. aasta
sees.
Süüdimõistmise korral, otsuse jõustumisel ja karistusregistrisse kandmisel on
õiguslikuks riskiks rahaline karistus, mis vastavalt tulumaksuseadusele kuulub
maksustamisele tulumaksuga. Samuti kaasnevad süüdimõistva otsuse jõustumisega
takistused AS-le Järvevana riigihangete menetlusest osavõtmisel.
AS Järvevana osundab, et vahetu menetluse printsiip kehtib täies ulatuses vaid
esimese astme kohtus. Esimese astme kohus jõudis pikaajalise, põhjaliku ja
vahetu menetluse tulemusena ühesele siseveendumusele, et AS Järvevana ja Toomas
Annus ei ole süüdi, seades sellega süüdistuse tervikuna kahtluse alla. ASi
Järvevana nõukogu ja juhatus on veendunud, et ettevõtte ja tema juhtorganite
tegevus on olnud korrektne ning Eesti Vabariigi seadustega kooskõlas.
Aktsia ja aktsionärid
AS Järvevana suuremad aktsionärid seisuga 31.12.2012
Aktsiate arv Osakaal
------------------------------
AS Riverito 12 742 686 71,99%
ING Luxembourg S.A., kliendid 963 376 5,44%
Tenlion OÜ 237 674 1,34%
Andersson Investeeringud OÜ 206 442 1,17%
Ridge Capital AS 195 599 1,11%
AS Järvevana aktsiad on alates 15. septembrist 2009 noteeritud NASDAQ OMX
Tallinn Balti Lisanimekirjas. AS Merko Ehitus jagunemisprotsessi käigus muudeti
ettevõtte ärinimi ASiks Järvevana ning alates 04.08.2008 kaubeldakse AS
Järvevana aktsiatega nimetuse JRV1T all. 2012. aasta 12 kuuga sooritati
Järvevana aktsiatega 455 tehingut, mille käigus vahetas omanikku 1 014 291
aktsiat ning tehingute käive oli 457 875 eurot. Madalaim tehing aktsiaga
sooritati tasemel 0,35 eurot ning kõrgeim tasemel 0,59 eurot aktsia. Aktsia
sulgemishind seisuga 31.12.2012 oli 0,59 eurot.
Aktsionäride struktuur seisuga 31.12.2012
Aktsiate arv Aktsionäride % Aktsiate arv % aktsiatest
arv aktsionäridest
-------------------
1-100 247 31,63% 11 869 0,07%
101-1000 278 35,59% 122 104 0,69%
1001-10 000 177 22,66% 680 490 3,84%
10 001 – 100 000 71 9,09% 2 192 568 12,39%
100 001 – 1 000 7 0,90% 1 950 283 11,02%
000
1 000 001 - … 1 0,13% 12 742 686 71,99%
Kokku 781 100% 17 700 000 100%
KOONDKASUMIARUANNE
auditeerimata, tuhandetes eurodes
2012.a. 2011.a.
12 kuud 12 kuud
Üldhalduskulud (213) (220)
-----------------
-----------------
Ärikasum (-kahjum) (213) (220)
Finantstulud ja -kulud 192 213
-----------------
sh intressitulud 192 213
Perioodi puhaskasum (-kahjum) (21) (7)
-----------------
Perioodi koondkasum (-kahjum) (21) (7)
-----------------
Puhaskasum (-kahjum) aktsia kohta (tava ja lahustatud, eur) (0,00) (0,00)
KOONDKASUMIARUANNE
auditeerimata, tuhandetes eurodes
2012.a. 2011.a.
IV kvartal IV kvartal
Üldhalduskulud (37) (54)
-----------------------
-----------------------
Ärikasum (-kahjum) (37) (54)
Finantstulud ja -kulud 36 59
-----------------------
sh intressitulud 36 59
Perioodi puhaskasum (-kahjum) (1) 5
-----------------------
Perioodi koondkasum (-kahjum) (1) 5
-----------------------
Puhaskasum (-kahjum) aktsia kohta (tava ja lahustatud, (0,00) 0,00
eur)
FINANTSSEISUNDI ARUANNE
auditeerimata, tuhandetes eurodes
31.12.2012 31.12.2011
VARAD
Käibevara
Raha ja raha ekvivalendid 2 532 2 531
Nõuded ja ettemaksed 13 584 13 403
Käibevara kokku 16 116 15 934
Põhivara
Materiaalne põhivara 24 35
Põhivara kokku 24 35
VARAD KOKKU 16 140 15 969
-----------------------
-----------------------
KOHUSTUSED
Lühiajalised kohustused
Võlad ja ettemaksed 221 29
Lühiajalised eraldised 1 118 1 118
Lühiajalised kohustused kokku 1 339 1 147
Kohustused kokku 1 339 1 147
Omakapital
Aktsiakapital 12 000 12 000
Kohustuslik reservkapital 1 200 1 131
Jaotamata kasum 1 601 1 691
Omakapital kokku 14 801 14 822
KOHUSTUSED JA OMAKAPITAL KOKKU 16 140 15 969
-----------------------
Toomas Annus
Juhatuse liige
6 805 400
[email protected]
Content of announcement in English
Title
2012 12 months and IV quarter unaudited interim report
Message
Estonia, Tallinn, 2013-02-27 15:00 CET (GLOBE NEWSWIRE) --
MANAGEMENT REPORT
General information
The company was formed after the demerger from AS Järvevana (former AS Merko
Ehitus), as a result of which the complete set of assets related to the
business activities of the construction company was separated and transferred
to the new AS Merko Ehitus, including all concluded construction contracts,
subcontracts and supply contracts, machinery, equipment and employees, all
professional know-how and cash flows from uninterrupted, continuous economic
activities, except for liabilities arising from the criminal case no.
05913000055, including compensations for damage, penalties and other payables,
legal expenses and liquid assets to cover potential liabilities arising from
the criminal proceedings in the amount of EUR 16.0 million. The company does
not have ordinary economic activities and the only objective of its activities
is to protect the interests of the company and shareholders in the long-lasting
criminal proceedings related to the land swap. As at 31 December 2012, one
person was employed by AS Järvevana, its Director Toomas Annus. The company’s
activities do not have a seasonal or cyclical nature.
Operating activities
At 3 April 2009, the Public Prosecutor’s Office submitted a statement of
charges (dated 31.03.2009) against AS Järvevana and Toomas Annus in criminal
case no. 05913000055 concerning the land swap
(http://www.nasdaqomxbaltic.com/market/?pg=news&news_id=232810).
At 12 November 2009, the judicial proceedings concerning the land swap case
commenced at Harju County Court.
An overview of the proceedings:
http://www.nasdaqomxbaltic.com/market/?pg=details&instrument=EE3100003559&list=3
&tab=news&news_id=238437.
In the statement of charges AS Järvevana was charged with five counts of giving
a bribe pursuant to § 298 of the Penitentiary Code, and the proceedings in the
case were conducted by the Harju County Court, being the court of the first
instance. The subject of proof concerning a bribery charge comprises three
elements, while the absence of even one of divests the charge of the necessary
elements of a criminal offence, namely: (i) promising or giving an official a
material reward; (ii) unlawful act committed by an official for the benefit of
the person giving the bribe; (iii) equivalence relation between the first and
the second elements, i.e. a reward is offered for a beneficial act. Moreover,
with regard to AS Järvevana it is necessary to prove that (i) the act was
committed by a senior executive of a legal entity, and (ii) that the act was
committed in the interest of the legal entity. AS Järvevana has participated in
no land swap transactions described in the statement of charges. Such
transactions were concluded, and hypothetical benefits might have been received
by independent subsidiaries being legal entities, which have not been charged.
AS Järvevana, however, has never swapped any land, even in accordance with the
statement of charges. Furthermore, it is obvious, that such acts could not have
been unlawful, inasmuch as they were permissible under § 19 of the Nature
Conservation Act, which rules out the qualification of such act as a bribery.
It has been proven (and ascertained by the judgement of the court of the first
instance), that more than 180 similar legitimate transactions have been
concluded on the same grounds and applying the same procedure by a number of
various persons. The statement of charges and the judgement established the
absence of damages and the [cause for] a civil action.
On 19 June 2012 was the last court session in the land exchange criminal case
at the Harju County Court acquitting Järvevana AS and Toomas Annus in the land
exchange criminal case No 1-09-4486, and declaring that the legal aid expenses
of AS Järvevana in the sum of EUR 611,810 would have to be paid by the state.
The court resolutely ascertained that AS Järvevana and Toomas Annus have not
committed any crimes, all relevant land exchange transactions were legal, and
that the Security Police Board and State Prosecutor’s Office have significantly
violated the law, the constitution and the European Convention for the
Protection of Human Rights and Fundamental Freedoms. The judgement was achieved
as a result of a three-year long thorough and immediate proceeding among other
things hearing about 120 witnesses. The judgement of acquittal was unanimous
with also the tribunal voting for it.
The State Prosecutor’s Office has appealed the judgement of acquittal in land
exchange case made in the court of first instance asking for annulment of the
acquittal of the Harju County Court and taking a new criminal conviction or, as
an alternative, asking for annulment of the decision and sending the case to
the court of first instance to reopen the case. Tallinn Circuit Court discussed
the appeal of the State Prosecutor’s Office and the response of the defenders
in the period from 14 January 2013 to 5 February 2013. The criminal defence
counsel of AS Järvevana submitted the court comprehensive propositions of the
pleading for the defence emphasising above all the fact that crimes have not
been committed referring to secondarily significant procedural violations in
the activities of the body conducting pre-trial proceedings and of the State
Prosecutor’s Office asking to keep the judgement of acquittal in force. Tallinn
Circuit Court will render its judgement in the land exchange court case on 19
June 2013. The judgement of the court of appeal can be appealed to the Supreme
Court. Considering the extraordinary volume and complexity of the case, it is
not certain whether the effective decision would be taken within the year 2013.
In case of conviction, entry into force of the court judgement and entry in the
Punishment Register, the legal risk would be a pecuniary punishment, which
pursuant to the Income Tax Act is subject to income tax. The entry into force
of the judgement of conviction would also concur with impediments for Järvevana
AS in participation in public procurements.
AS Järvevana cites that the principle of the direct procedure is valid in full
only in the court of first instance. As a result of a lengthy, thorough and
immediate proceeding, the court of first instance came to a unanimous
conviction that AS Järvevana and Toomas Annus were not guilty, thereby calling
the accusation as a whole into question. The Supervisory Board and the
Management Board of Järvevana AS are convinced that the activities of the
company and its directing bodies have been correct and in compliance with the
legislation of the Republic of Estonia.
Share and shareholders
The main shareholders of AS Järvevana as at 31.12.2012
Number of shares % of shares
-----------------------------
AS Riverito 12 742 686 71,99%
ING Luxembourg S.A., clients 963 376 5,44%
Tenlion OÜ 237 674 1,34%
Andersson Investeeringud OÜ 206 442 1,17%
Ridge Capital AS 195 599 1,11%
From 15.09.2009, the shares of AS Järvevana are included in the secondary list
of NASDAQ OMX Tallinn Stock Exchange. During the demerger of AS Merko Ehitus,
the company’s business name was changed to AS Järvevana and from 04.08.2008,
the shares of AS Järvevana are traded under the symbol of JRV1T. In 2012 12
months, 455 transactions were performed with the shares of AS Järvevana in the
course of which 1,014,291 shares were traded and the total monetary value of
transactions was EUR 457,875. The lowest transaction price was EUR 0.35 and the
highest transaction price was EUR 0.59 per share. The closing price of the
shares as at 31.12.2012 was EUR 0.59.
Structure of shareholders as at 31.12.2012
Number of shares Number of % of Number of % of
shareholders shareholders shares shares
-----------------
1-100 247 31,63% 11 869 0,07%
101-1000 278 35,59% 122 104 0,69%
1001-10 000 177 22,66% 680 490 3,84%
10 001 – 100 000 71 9,09% 2 192 568 12,39%
100 001 – 1 000 7 0,90% 1 950 283 11,02%
000
1 000 001 - … 1 0,13% 12 742 686 71,99%
Total 781 100% 17 700 000 100%
STATEMENT OF COMPREHENSIVE INCOME
unaudited, in thousand euros
2012 2011
12 months 12 months
General and administrative expenses (213) (220)
---------------------
---------------------
Operating profit (loss) (213) (220)
Finance income and costs 192 213
---------------------
incl. interest income 192 213
Net profit (loss) for the period (21) (7)
---------------------
Comprehensive profit (loss) for the period (21) (7)
---------------------
Earnings per share (basic and diluted, in EUR) (0.00) (0.00)
STATEMENT OF COMPREHENSIVE INCOME
unaudited, in thousand euros
2012 2011
IV quarter IV quarter
General and administrative expenses (37) (54)
-----------------------
-----------------------
Operating profit (loss) (37) (54)
Finance income and costs 36 59
-----------------------
incl. interest income 36 59
Net profit (loss) for the period (1) 5
-----------------------
Comprehensive profit (loss) for the period (1) 5
-----------------------
Earnings per share (basic and diluted, in EUR) (0.00) 0.00
STATEMENT OF FINANCIAL POSITION
unaudited, in thousand euros
31.12.2012 31.12.2011
ASSETS
Current assets
Cash and cash equivalents 2 532 2 531
Trade and other receivables 13 584 13 403
Total current assets 16 116 15 934
Non-current assets
Property, plant and equipment 24 35
Total non-current assets 24 35
TOTAL ASSETS 16 140 15 969
-----------------------
-----------------------
LIABILITIES AND EQUITY
Current liabilities
Trade and other payables 221 29
Short-term provisions 1 118 1 118
Total current liabilities 1 339 1 147
Total liabilities 1 339 1 147
Equity
Share capital 12 000 12 000
Statutory reserve capital 1 200 1 131
Retained earnings 1 601 1 691
Total equity 14 801 14 822
TOTAL LIABILITIES AND EQUITY 16 140 15 969
-----------------------
Toomas Annus
Member of Management Board
+372 6 805 400
[email protected]