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 corporate action
Unique data record identifier
6915
Submission date and time
12.10.2018 16:21:09
Content of announcement in Estonian
Title
Arco Vara AS-i juhatuse liikme volituste pikendamine
Message
Arco Vara AS-i nõukogu võttis vastu otsuse pikendada Arco Vara AS-i juhataja Tarmo Sild'i juhatuse liikme volitusi kolme aasta võrra, st kuni 15.10.2021. Arco Vara AS-i juhatus on jätkuvalt üheliikmeline. Täiendavat juhatuse liikme optsiooniprogrammi Tarmo Sild'i uue ametiajaga ei kaasne, selle asemel on kasumipõhine boonussüsteem. Tarmo Sild: "Juhatuse ülesanne on tõsta Arco Vara grupi kasumlikkust järgmisel kolmeaastasel perioodil. Selleks tuleb teha mitut asja. Esiteks tuleb realiseerida kõik hetkel ehituses olevad arendusprojektid, kokku 135 ühikut, oodatud kogutuluga ca 20 miljonit EUR. Loodud maapank võimaldab Eestis ja Bulgaarias täiendavalt ehitada ja müüa veel kuni 900 ühikut kortereid, ridaelamuid ja eramuid, kuid nende ehitust alustame vastavalt turukonjunktuurile aastatel 2019, 2020, 2021. Teiseks tuleb refinantseerida Mardid Blvd hoone pangalaen oluliselt soodsamatel tingimustel laenu vastu, hoida täituvust 100% juures ning hakata kaubandus- ja kontoripindadelt teenima stabiilset renditulu. Kolmandaks tuleb meie kaubamärgi alt osutatavad vahendus- ja hindamisteenused muuta grupi jaoks kasumlikuks. Ning neljandaks tuleb grupi üldkulu alla viia. Ennustamata tulevikku, peame olema valmis ka selliseks perioodiks, mil uusarenduste finantseerimine, ehitus ja müük meie koduturgudel väheneb järsult. Arco Vara peab olema kasumlik isegi jääajal". Evelin Kanter Juriidilise osakonna juht Arco Vara AS Tel: +372 614 4594 [email protected] (mailto:[email protected]) http://www.arcorealestate.com
Content of announcement in English
Title
Extension of the authorities of Arco Vara AS' Management Board member
Message
The Supervisory Board of Arco Vara AS decided to extend the term of office of Tarmo Sild, member of the Management Board of Arco Vara AS, by three years, i.e. until 15 October, 2021. Arco Vara AS will continue with one-member Management Board. There will be no new stock options connected to Tarmo Sild's extended term of office, instead there will be a profit-related bonus system. Tarmo Sild: "The Management Board is tasked to increase the profitability of Arco Vara Group during the next three year period. We have to accomplish several things for that. First, we must complete and sell out all development projects that are currently under construction, in total 135 units, with total expected revenue of ca 20 million EUR. The land bank we have created in Estonian and Bulgaria would allow us to construct and sell additionally ca 900 units of apartments, row and single houses, but we will commence their construction in 2019, 2020 and 2021 according to prevailing market conditions at the time. Second, we must refinance the existing Madrid Blvd building bank loan under much more favourable conditions, keep the occupancy rate close to 100% and start to earn a stable rental income with commercial and office premises. Third, the real estate brokerage and appraisal services, provided under our trademark, have to become profitable for the group. And fourth, we must reduce the group's overhead cost. Without any attempt to predict the future, we have to be prepared also for a sharp decrease in financing, construction and sale of new real estate developments on our home markets. Arco Vara must remain profitable even during the ice age". Evelin Kanter Head of Legal Department Arco Vara AS Tel: +372 614 4594 [email protected] (mailto:[email protected]) http://www.arcorealestate.com