Market announcement
AS Silvano Fashion Group
LEI code
529900JNG41RRJKJYB65
Size of the entity
Large group
Economic activities
Financial and Insurance Activities
Country of registered office
Estonia
General information
Categories
Results of General Meeting
Unique data record identifier
4519
Submission date and time
30.06.2014 17:45:00
Content of announcement in Estonian
Title
Silvano Fashion Group korralise üldkoosoleku otsused
Message
Tallinn, 2014-06-30 16:45 CEST (GLOBE NEWSWIRE) -- <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">30. juunil 2014. a algusega kell 12:00, toimus Radisson Blu Hotel Olümpia konverentsisaalis “Epsilon” (Liivalaia 33, Tallinn, Eesti Vabariik) AS Silvano Fashion Group (edaspidi “SFG”) aktsionäride korraline üldkoosolek (edaspidi “Koosolek”). </span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">Koosoleku päevakorras olid 05.06.2014. a. Tallinna Väärtpaberibörsi ja Varssavi börsi kodulehel ning 06.06.2014. a. ajalehes “Eesti Päevaleht” ja Aktsiaselts Silvano Fashion Group kodulehel avaldatud Koosoleku kokkukutsumise teates toodud küsimused, sh eelmise majandusaasta aruande kinnitamine, kasumi jaotamise otsustamine, audiitori nimetamine, aktsiakapitali vähendamine ning oma aktsiate tagasiostuprogrammi kinnitamine.</span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">Koosolek algas kell 12:00 ja lõppes kell 13:30. Koosolekul osales 35 aktsionäri, kelle aktsiatega oli esindatud 24 878 518 häält, mis moodustab 63,79% hääleõiguslike aktsiate arvust. Seega oli Koosolek pädev võtma vastu otsuseid Koosoleku päevakorras olnud küsimustes. </span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">Koosolek võttis vastu alljärgnevad otsused.</span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">1. Päevakorrapunkt: 2013. majandusaasta aruande kinnitamine Otsustati: 1. Kinnitada Silvano Fashion Group 2013. majandusaasta aruanne. </span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">Hääletustulemused:</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">24 Helvetica, sans-serif;"><span 878 518 häält ehk 100% koosolekul esindatud style="font-size:10pt;">poolt häältest ja 63,14% kogu :</span></span> aktsiakapitalist</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">0 Helvetica, sans-serif;"><span häält ehk 0% koosolekul esindatud häältest ja style="font-size:10pt;">vastu 0% kogu aktsiakapitalist</span></span> :</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">0 Helvetica, sans-serif;"><span häält ehk 0% koosolekul esindatud häältest ja style="font-size:10pt;">erapo 0% kogu aktsiakapitalist</span></span> oletu:</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">0 Helvetica, sans-serif;"><span häält ehk 0% koosolekul esindatud häältest ja style="font-size:10pt;">ei 0% kogu aktsiakapitalist</span></span> hääletanud:</span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;"><strong style="background-color: rgb(255, 255, 255);">2. Päevakorrapunkt: Kasumi jaotamine Otsustati:</span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">2.1. Kinnitada AS-i Silvano Fashion Group 2013. a majandusaasta puhaskasumiks 10 946 000 eurot;</span></span> <span style="font-size:10pt;font-family:Arial, Helvetica, sans-serif;">2.2. Mitte eraldada AS-i Silvano Fashion Group 2013. a majandusaasta puhaskasumist vahendeid AS-i Silvano Fashion Group reservkapitali. Pärast aktsiakapitali vähendamist vastab AS-i Silvano Fashion Group reservkapital äriseadustiku § 336 lg-s 2 sätestatud tingimustele;</span> <span style="font-size:10pt;font-family:Arial, Helvetica, sans-serif;">2.3. Jaotada AS-i Silvano Fashion Group aktsionäridele dividendina kasumiosa järgmiselt:</span> <span style="font-size:10pt;font-family:Arial, Helvetica, sans-serif;">2.3.1. Fikseerida dividendi saamiseks õigustatud AS-i Silvano Fashion Group aktsionäride nimekiri seisuga 14. juuli 2014. a kell 23:59;</span> <span style="font-size:10pt;font-family:Arial, Helvetica, sans-serif;">2.3.2. Maksta õigustatud AS-i Silvano Fashion Group aktsionäridele dividendina välja 0,10 eurot aktsia kohta hiljemalt 15. juulil 2014. a;</span> <span style="font-size:10pt;font-family:Arial, Helvetica, sans-serif;">2.4. Suunata ülejäänud AS-i Silvano Fashion Group 2013. a majandusaasta puhaskasum eelmiste perioodide jaotamata kasumisse.</span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">Hääletustulemused:</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">24 Helvetica, sans-serif;"><span 749 728 häält ehk 99,48% koosolekul esindatud style="font-size:10pt;">poolt häältest ja 62,82% kogu :</span></span> aktsiakapitalist</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">128 Helvetica, sans-serif;"><span 790 häält ehk 0,52% koosolekul esindatud style="font-size:10pt;">vastu häältest ja 0,33% kogu :</span></span> aktsiakapitalist</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">0 Helvetica, sans-serif;"><span häält ehk 0% koosolekul esindatud häältest ja style="font-size:10pt;">erapo 0% kogu aktsiakapitalist</span></span> oletu:</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">0 Helvetica, sans-serif;"><span häält ehk 0% koosolekul esindatud häältest ja style="font-size:10pt;">ei 0% kogu aktsiakapitalist hääletanud:</span></span> </span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">3. Päevakorrapunkt: Audiitori nimetamine</span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">Otsustati:</span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">3.1. Nimetada AS-i Silvano Fashion Group audiitoriks audiitorühing AS PricewaterhouseCoopers (registrikood 10142876, asukohaga Pärnu mnt 15, 10141 Tallinn), kelle volitused kehtivad järgmise AS-i Silvano Fashion Group korralise üldkoosoleku toimumise päevani;</span></span> <span style="font-size:10pt;font-family:Arial, Helvetica, sans-serif;">3.2. Volitada AS-i Silvano Fashion Group juhatust sõlmima audiitorühinguga AS-iga PricewaterhouseCoopers audiitorteenuse leping AS-i Silvano Fashion Group 2014. a majandustegevuse auditeerimiseks hinnaga, mis ei ületa AS-i Silvano Fashion Group 2013. a majandusaasta auditeerimise eest tasutud summat.</span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">Hääletustulemused:</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">24 Helvetica, sans-serif;"><span 778 768 häält ehk 99,59% koosolekul esindatud style="font-size:10pt;">poolt häältest ja 62,89% kogu :</span></span> aktsiakapitalist</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">94 Helvetica, sans-serif;"><span 200 häält ehk 0,38% koosolekul esindatud style="font-size:10pt;">vastu häältest ja 0,24% kogu :</span></span> aktsiakapitalist</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">50 Helvetica, sans-serif;"><span häält ehk 0% koosolekul esindatud häältest ja style="font-size:10pt;">erapo 0% kogu aktsiakapitalist</span></span> oletu:</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">5 Helvetica, sans-serif;"><span 500 häält ehk 0,02% koosolekul esindatud style="font-size:10pt;">ei häältest ja 0,01% kogu aktsiakapitalist hääletanud:</span></span> </span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">4. Päevakorrapunkt: Aktsiakapitali vähendamine </span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">Otsustati:</span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">4.1. AS-i Silvano Fashion Group aktsiakapitali vähendamise põhjuseks on vajadus vähendada AS-i Silvano Fashion Group aktsiakapitali ja tühistada 28. juunil 2013. a AS-i Silvano Fashion Group aktsionäride poolt kinnitatud aktsiate tagasiostuprogrammi raames omandatud 400 000 oma aktsiat;</span></span> <span style="font-size:10pt;font-family:Arial, Helvetica, sans-serif;">4.2. AS-i Silvano Fashion Group aktsiakapitali vähendatakse 120 000 euro võrra, seniselt 11 820 000 eurolt 11 700 000 euroni;</span> <span style="font-size:10pt;font-family:Arial, Helvetica, sans-serif;">4.3. AS-i Silvano Fashion Group aktsiakapitali vähendamisel tühistatakse 28. juunil 2013. a AS-i Silvano Fashion Group aktsionäride poolt kinnitatud aktsiate tagasiostuprogrammi raames omandatud 400 000 oma aktsiat;</span> <span style="font-size:10pt;font-family:Arial, Helvetica, sans-serif;">4.4. AS-i Silvano Fashion Group aktsiakapitali vähendamise järgselt on AS-i Silvano Fashion Group aktsiakapital jagatud 39 000 000 aktsiaks nimiväärtusega 0,30 eurot.</span> <span style="font-size:10pt;font-family:Arial, Helvetica, sans-serif;">Hääletustulemused:</span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">24 Helvetica, sans-serif;"><span 871 662 häält ehk 99,97% koosolekul esindatud style="font-size:10pt;">poolt häältest ja 63,12% kogu :</span></span> aktsiakapitalist</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">4 Helvetica, sans-serif;"><span 790 häält ehk 0,02% koosolekul esindatud style="font-size:10pt;">vastu häältest ja 0,01% kogu :</span></span> aktsiakapitalist</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">66 Helvetica, sans-serif;"><span häält ehk 0% koosolekul esindatud häältest ja style="font-size:10pt;">erapo 0% kogu aktsiakapitalist</span></span> oletu:</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">2 Helvetica, sans-serif;"><span 000 häält ehk 0,02% koosolekul esindatud style="font-size:10pt;">ei häältest ja 0,01% kogu aktsiakapitalist hääletanud:</span></span> </span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">5. Päevakorrapunkt: <strong style="font-size: 11pt;">oma aktsiate tagasiostuprogrammi tingimuste kindlaksmääramine </span></span> <span style="font-family:Arial, Helvetica, sans-serif;font-size:10pt;">Otsustati:</span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">5.1. Kinnitada AS Silvano Fashion Group aktsiate tagasiostuprogramm järgmistel tingimustel: 5.1.1. AS-i Silvano Fashion Group aktsiate tagasiostu eesmärgiks on AS-i Silvano Fashion Group aktsiakapitali vähendamine; 5.1.2. AS-il Silvano Fashion Group on õigus oma aktsiaid tagasi osta ühe tehinguga või osade kaupa alates 01. juulist 2014. a kuni 30. juunini 2015. a; 5.1.3. AS-i Silvano Fashion Group on õigus osta tagasi maksimaalselt 1 000 000 oma aktsiat; 5.1.4. Maksimaalne hind, millega AS Silvano Fashion Group võib tagasiostuprogrammi käigus oma aktsiaid tagasi osta on 2,00 eurot aktsia kohta; 5.1.5. AS Silvano Fashion Group tasub tagasiostuprogrammi käigus tagasi ostetud oma aktsiate eest varast, mis ületab aktsiakapitali, reservkapitali ja ülekurssi; 5.1.6. Aktsiate tagasiostu programmi käigus tagasi ostetud ja AS-i Silvano Fashion Group poolt varasemalt omandatud oma aktsiate nimiväärtuste summa ei tohi ületada 10% AS-i Silvano Fashion Group aktsiakapitalist; 5.1.7. Anda AS-i Silvano Fashion Group juhatusele õigus ületada reguleeritud turu äärmiselt madala likviidsuse korral Euroopa Komisjoni 22. detsembri 2003. a määruse (EÜ) nr 2273/2003 artikli 5 p-s 2 sätestatud oma aktsiate tagasiostmise 25% piirpäevamahtu ja osta sama päeva jooksul oma aktsiaid koguses, mis ei ületa 50% keskmisest päevasest mahust reguleeritud turul; 5.1.8. Oma aktsiate omandamine toimub kooskõlas Euroopa Komisjoni 22. detsembri 2003. a määrusega (EÜ) nr 2273/2003, millega rakendatakse Euroopa Parlamendi ja nõukogu direktiivi 2003/6/EÜ seoses tagasiostuprogrammidele ja finantsinstrumentide stabiliseerimisele ettenähtud eranditega; 5.1.9. Volitada AS-i Silvano Fashion Group juhatust sõlmima ühe kuu jooksul arvates oma aktsiate tagasiostuprogrammi vastuvõtmisest pädeva investeerimisettevõttega või krediidiasutusega oma aktsiate tagasiostu korraldamiseks leping käesolevas otsuses sätestatud tingimustel. </span></span> <span style="font-size:10pt;font-family:Arial, Helvetica, sans-serif;">Hääletustulemused:</span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">24 Helvetica, sans-serif;"><span 869 112 häält ehk 99,96% koosolekul esindatud style="font-size:10pt;">poolt häältest ja 63,12% kogu :</span></span> aktsiakapitalist</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">3 Helvetica, sans-serif;"><span 840 häält ehk 0,02% koosolekul esindatud style="font-size:10pt;">vastu häältest ja 0,01% kogu :</span></span> aktsiakapitalist</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">66 Helvetica, sans-serif;"><span häält ehk 0% koosolekul esindatud häältest ja style="font-size:10pt;">erapo 0% kogu aktsiakapitalist</span></span> oletu:</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">5 Helvetica, sans-serif;"><span 500 häält ehk 0,02% koosolekul esindatud style="font-size:10pt;">ei häältest ja 0,01% kogu aktsiakapitalist hääletanud:</span></span> </span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">Koosolekul võeti otsused vastu järgides seaduses ja SFG põhikirjas sätestatud otsuste vastuvõtmise korda. </span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">Koosoleku protokoll ja kaasnevad materjalid on investoritele kättesaadavad hiljemalt 1 (ühe) nädala jooksul alates Koosoleku toimumise ajast SFG kodulehel aadressil http://www.silvanofashion.com/investors/shareholders-meetings.html. </span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">Märt Meerits AS Silvano Fashion Group juhatuse esimees E-post: [email protected] Tel: +372 684 5000; Faks: +372 684 5300 Aadress: Tulika 15/17, 10613 Tallinn http://www.silvanofashion.com </span></span>
Content of announcement in English
Title
Silvano Fashion Group decisions of the annual general meeting of shareholders
Message
Tallinn, 2014-06-30 16:45 CEST (GLOBE NEWSWIRE) -- <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">The annual general meeting of shareholders of AS Silvano Fashion Group (hereinafter SFG) was held on June 30, 2014, at 12:00 noon at Radisson Blu Hotel Olümpia conference hall “Epsilon” (Liivalaia 33, Tallinn, Estonia) (hereinafter Meeting). </span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">The agenda of the Meeting contained the items set out in the notice of the Meeting published on June 5, 2014 via the information system of NASDAQ OMX Tallinn and Warsaw Stock Exchange, on the website of SFG at http://www.silvanofashion.com/investors/shareholders-meetings.html, and on June 6, 2014 in the daily newspaper Eesti Päevaleht, including adoption of the 2013 Annual Report, distribution of profit, election of the auditor, reduction of the share capital and adoption of the own share buy-back program. </span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">The Meeting started at 12:00 and ended at 13:30. Thirty five (35) shareholders attended the Meeting representing 24 878 518 votes, constituting 63.79% of the voting rights of the company. Therefore the Meeting was eligible to pass resolutions regarding the items on the agenda of the Meeting. </span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">The following resolutions were passed at the Meeting:</span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">1. Item: Adoption of the 2013 Annual Report</span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">The Meeting decided: 1.1. To approve the Annual Report of SFG for 2013 financial year. </span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">Tabulation of the votes:</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">24 Helvetica, 878 518 votes, representing 100% of the votes of sans-serif;"><span the AGM and 63.14% from the share style="font-size:10pt;">For: capital</span></span> </span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">0 Helvetica, votes, representing 0% of the votes of the AGM sans-serif;"><span and 0% from the share capital</span></span> style="font-size:10pt;">Agai nst:</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">0 Helvetica, votes, representing 0% of the votes of the AGM sans-serif;"><span and 0% from the share capital</span></span> style="font-size:10pt;">Impa rtial:</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">0 Helvetica, votes, representing 0% of the votes of the AGM sans-serif;"><span and 0% from the share capital</span></span> style="font-size:10pt;">Did not vote:</span></span> <span style="font-size:10pt;"><span style="font-family:Arial, Helvetica, sans-serif;"><strong style="font-size: 11pt;">2. Item: Distribution of profit</span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">The Meeting decided:</span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">2.1. To approve the profit of the 2013 financial year in amount of EUR 10,946,000; 2.2. To make no allocations from the 2013 profit of AS Silvano Fashion Group into the reserve capital of AS Silvano Fashion Group. Following the reduction of the share capital, the reserve capital of AS Silvano Fashion Group will correspond to the requirements provided in Article 336(2) of the Estonian Commercial Code; 2.3. To distribute the profit by paying dividends to the shareholders of AS Silvano Fashion Group as follows: 2.3.1. The list of shareholders of AS Silvano Fashion Group entitled to profit distribution shall be fixed on 14th of July 2014 at 11:59 p.m. 2.3.2. EUR 0.10 per share shall be payable to the entitled shareholders as a dividend at the latest on 15th of July 2014; 2.3.3. To allocate the rest of the profit of AS Silvano Fashion Group from the 2013 financial year into the undistributed profit of previous periods.</span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">Tabulation of the votes:</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">24 Helvetica, 749 728 votes, representing 99.48% of the votes sans-serif;"><span of the AGM and 62.82% from the share style="font-size:10pt;">For: capital</span></span> </span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">128 Helvetica, 790 votes, representing 0.52% of the votes of sans-serif;"><span the AGM and 0.33% from the share style="font-size:10pt;">Agai capital</span></span> nst:</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">0 Helvetica, votes, representing 0% of the votes of the AGM sans-serif;"><span and 0% from the share capital</span></span> style="font-size:10pt;">Impa rtial:</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">0 Helvetica, votes, representing 0% of the votes of the AGM sans-serif;"><span and 0% from the share capital</span></span> style="font-size:10pt;">Did not vote:</span></span> <strong style="font-size: 11pt;">3. Item: Election of the auditor <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">The Meeting decided:</span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">3.1. To elect audit company AS PricewaterhouseCoopers (registry code 10142876, address Pärnu mnt 15, 10141 Tallinn) as the auditor of AS Silvano Fashion group, whose authorities shall be valid until the next ordinary general meeting of AS Silvano Fashion Group; 3.2. To authorize the Management Board of AS Silvano Fashion Group to sign an auditing agreement with the audit company AS PricewaterhouseCoopers for the auditing of AS Silvano Fashion Group 2014 business activities at a price that does not exceed the price paid for the auditing services of AS Silvano Fashion Group in 2013 fiscal year.</span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;"> Tabulation of the votes:</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">24 Helvetica, 778 768 votes, representing 99.59% of the votes sans-serif;"><span of the AGM and 62.89% from the share style="font-size:10pt;">For: capital</span></span> </span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">94 Helvetica, 200 votes, representing 0.38% of the votes of sans-serif;"><span the AGM and 0.24% from the share style="font-size:10pt;">Agai capital</span></span> nst:</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">50 Helvetica, votes, representing 0% of the votes of the AGM sans-serif;"><span and 0% from the share capital</span></span> style="font-size:10pt;">Impa rtial:</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">5 500 Helvetica, votes, representing 0.02% of the votes of the sans-serif;"><span AGM and 0.01% from the share style="font-size:10pt;">Did capital</span></span> not vote:</span></span> 4. Item: Reduction of the share capital of AS Silvano Fashion Group <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">The Meeting decided:</span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">4.1. The reason for reducing the share capital of AS Silvano Fashion Group is a need to reduce the share capital of AS Silvano Fashion Group and to cancel the 400 000 own shares acquired within the own share buy-back programme as approved by the shareholders of AS Silvano Fashion Group on 28th of June 2013; 4.2. The share capital of AS Silvano Fashion Group shall be reduced by EUR 120,000 from the former EUR 11,820,000 to EUR 11,700,000; 4.3. Upon the reduction of the share capital of AS Silvano Fashion Group, the 400 000 own shares acquired within the own share buy-back programme as approved by the shareholders of AS Silvano Fashion Group on 28 June 2013 shall be cancelled; 4.4. Upon the reduction of the share capital of AS Silvano Fashion Group, the share capital of AS Silvano Fashion Group shall be divided into 39,000,000 shares with the nominal value of EUR 0.30.</span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">Tabulation of the votes:</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">24 Helvetica, 871 662 votes, representing 99.97% of the votes sans-serif;"><span of the AGM and 63.12% from the share style="font-size:10pt;">For: capital</span></span> </span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">4 790 Helvetica, votes, representing 0.02% of the votes of the sans-serif;"><span AGM and 0.01% from the share style="font-size:10pt;">Agai capital</span></span> nst:</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">66 Helvetica, votes, representing 0% of the votes of the AGM sans-serif;"><span and 0% from the share capital</span></span> style="font-size:10pt;">Impa rtial:</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">2 000 Helvetica, votes, representing 0.02% of the votes of the sans-serif;"><span AGM and 0.01% from the share capital style="font-size:10pt;">Did </span></span> not vote:</span></span> 5. Item: Determination of the conditions of the own share buy-back programme of AS Silvano Fashion Group <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">The Meeting decided:</span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">5.1.To approve the own share buy-back program of AS Silvano Fashion Group on the following conditions: 5.1.1.The sole purpose of the buy-back programme of own shares of AS Silvano Fashion Group is the reduction of the share capital of AS Silvano Fashion Group; 5.1.2. AS Silvano Fashion Group shall have a right to buy back own shares with one transaction or in parts within the time period from 1 July 2014 until 30 June 2015; 5.1.3. AS Silvano Fashion Group shall have a right to buy back maximum of 1,000,000 own shares; 5.1.4. The maximum price at which AS Silvano Fashion Group may buy back its own shares within the own share buy-back programme is EUR 2.00 per share; 5.1.5. The acquired own shares shall be acquired from the assets that exceed the registered share capital, reserve capital and share premium of AS Silvano Fashion Group; 5.1.6. The sum of the nominal values of the own shares acquired within the buy-back programme and of the previously acquired own shares of AS Silvano Fashion Group may not exceed 10% of the share capital of AS Silvano Fashion Group; 5.1.7. To authorize the Management Board of AS Silvano Fashion Group, in the cases of extreme low liquidity on the market, to exceed the limit of 25% of the average daily volume of the shares in any one day on the regulated market which is provided for in Article 5 subsection 2 of Commission Regulation (EC) No 2273/2003 and to buy back own shares within one day in the amount which does not exceed 50% of the average daily volume on the regulated market; 5.1.8. The buy-back of own shares shall be carried out in accordance with the Commission Regulation (EC) No 2273/2003 dated 22 December 2003 implementing Directive 2003/6/EC of the European Parliament and of the Council with regard to exemptions for buy-back programmes and stabilisation of financial instruments; 5.1.9. To authorize the Management Board of AS Silvano Fashion Group to enter into a contract with an investment company or a credit institution as the organizer of the buy-back of own shares within one month from the determination of the conditions of the buy-back programme of own shares.</span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">Tabulation of the votes:</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">24 Helvetica, 869 112 votes, representing 99.96% of the votes sans-serif;"><span of the AGM and 63.12% from the share style="font-size:10pt;">For: capital</span></span> </span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">3 840 Helvetica, votes, representing 0.02% of the votes of the sans-serif;"><span AGM and 0.01% from the share style="font-size:10pt;">Agai capital</span></span> nst:</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">66 Helvetica, votes, representing 0% of the votes of the AGM sans-serif;"><span and 0% from the share capital</span></span> style="font-size:10pt;">Impa rtial:</span></span> <span <span style="font-family:Arial, Helvetica, style="font-family:Arial, sans-serif;"><span style="font-size:10pt;">5 500 Helvetica, votes, representing 0.02% of the votes of the sans-serif;"><span AGM and 0.01% from the share capital style="font-size:10pt;">Did </span></span> not vote:</span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">The resolutions were adopted at the Meeting following the procedure for passing of resolutions set forth in laws and in the Articles of Association of the Company.</span></span> <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">The protocol of the meeting, and related documents shall be made available to investors within 1 (one) week from the Meeting at SFG website http://www.silvanofashion.com/investors/shareholders-meetings.html.</span></span > <span style="font-family:Arial, Helvetica, sans-serif;"><span style="font-size:10pt;">Märt Meerits Chairman of board of Silvano Fashion Group E-mail: [email protected] Tel: +372 684 5000; Fax: +372 684 5300 Address: Tulika 15/17, 10613 Tallinn, Estonia http://www.silvanofashion.com</span></span>