Market announcement
AS TALLINNA VESI
LEI code
5493000M6TVS2X0KWC97
Size of the entity
Large group
Economic activities
Water Supply; Sewerage, Waste Management and Remediation Activities
Country of registered office
Estonia
General information
Categories
Notifications of major holdings
Unique data record identifier
8568
Submission date and time
11.02.2021 18:16:54
Content of announcement in Estonian
Title
AS-i Tallinna Vesi olulise osalusega aktsionäride ja OÜ Utilitas vahel sõlmitud aktsiate müügilepingu jõustumine
Message
AS Tallinna Vesi teavitas 03.02.2021 (ja parandas vastavat teadet 11.02.2021), et United Utilities (Tallinn) B.V. ja Tallinna Linn koos OÜ-ga Utilitas sõlmivad aktsiate müügilepingu, mille kohaselt United Utilities (Tallinn) B.V. müüb kokku 7 060 870 AS-i Tallinna Vesi A-aktsiat võrdsetes osades Tallinna Linnale ja OÜ-le Utilitas hinnaga 14,20 eurot aktsia eest. Tehingu tulemusel kuulub Tallinna Linnale 10 469 565 AS Tallinna Vesi A-aktsiat ja 1 B-aktsia (mis esindavad 52,35% AS Tallinna Vesi aktsiakapitalist) ja OÜ-le Utilitas kuulub 3 530 435 AS Tallinna Vesi A-aktsiat (mis esindavad 17,65% AS Tallinna Vesi aktsiakapitalist). Tehingu jõustumiseks peab aktsiate müügilepingu heaks kiitma Tallinna Linnavolikogu ning United Utilities (Tallinn) B.V.-lt aktsiate omandamine viiakse lõpule pärast Konkurentsiameti loa saamist. 11.02.2021 toimunud Tallinna Linnavolikogu istungil kiideti AS-i Tallinna Vesi aktsiate omandamine ja seejärel AS-i Tallinna Vesi aktsionäridele aktsiate kohustusliku ülevõtmispakkumise tegemine heaks. Otsuse kohaselt tuleb Tallinna Linnal koos OÜ-ga Utilitas teha seaduses sätestatud tingimustel AS Tallinna Vesi aktsionäridele AS Tallinna Vesi kuue miljoni (6 000 000) A-aktsia kohustuslik ülevõtmispakkumine tingimusel, et ülevõtmispakkumise esemeks olevatest aktsiatest omandab 50% Tallinna Linn ja 50% OÜ Utilitas. Lõplik aktsiate arv, mida ülevõtmispakkumise käigus omandatakse, sõltub sellest, kui paljud aktsionärid otsustavad ülevõtmispakkumise vastu võtta. Ülevõtmispakkumine tehakse pärast United Utilities (Tallinn) B.V.-lt osaluse tegelikku omandamist ja Finantsinspektsioonilt kohustusliku ülevõtmispakkumise läbiviimiseks vajalike kooskõlastuste saamist. AS-i Tallinna Vesi edaspidise juhtimise korraldamise aspektist toome välja, et Tallinna Linn ja OÜ Utilitas on kokku leppinud, et aktsiaseltsi nõukokku jääb üheksa liiget. Kokkuleppe kohaselt on Tallinna Linnal tehingu lõpuleviimise järel õigus nimetada kandidaadid neljale nõukogu liikme kohale (neist kaks otsemääramise teel) ning OÜ-l Utilitas kolmele nõukogu liikme kohale (neist kaks otsemääramise teel). Kaks nõukogu liiget valitakse jätkuvalt sõltumatute kandidaatide hulgast. Nõukogu esimees valitakse OÜ Utilitas poolt nimetatud nõukogu liikmete seast. Nõukogu aseesimees valitakse Tallinna Linna nimetatud nõukogu liikmete hulgast. Aktsiaseltsi juhatusel on kaks kuni kolm liiget. Vähemalt kaks juhatuse liikme kandidaati nimetab OÜ Utilitas ja juhatuse esimees valitakse OÜ Utilitas nimetatud juhatuse liikmete seast. Tallinna Linna, OÜ Utilitas ja AS-i Tallinna Vesi vahel hakkab ettevõtte juhtimist ja aktsionäride vahelisi suhteid reguleerima aktsionäride leping, mille tingimustest teavitatakse investoreid nõuetekohaselt. Kristi Ojakäär AS Tallinna Vesi Finantsdirektor (+372) 62 62 262 [email protected]
Content of announcement in English
Title
Entry into force of the share sale agreement between OÜ Utilitas and the shareholders with substantial shareholding in AS Tallinna Vesi
Message
AS Tallinna Vesi informed on 03/02/2021 (with correction made on 11/02/2021) that United Utilities (Tallinn) B.V. and the City of Tallinn along with OÜ Utilitas would be entering into a share sale agreement, whereby United Utilities (Tallinn) B.V. sells a total of 7,060,870 A-shares in AS Tallinna Vesi to the City of Tallinn and OÜ Utilitas in equal parts at a price of 14.20 euros per share. As a result of the transaction, the City of Tallinn will hold 10,469,565 A-shares and 1 B-share in AS Tallinna Vesi (representing 52.35% of the share capital of AS Tallinna Vesi), and OÜ Utilitas will hold 3,530,435 A-shares in AS Tallinna Vesi (representing 17.65% of the share capital of AS Tallinna Vesi). Tallinn City Council must approve the sale and purchase agreement to allow the transaction to be completed and the acquisition of shares from United Utilities (Tallinn) B.V. shall be completed after the issue of clearance by the Competition Authority. At the session of 11/02/2021, Tallinn City Council approved the decision to acquire the shares in AS Tallinna Vesi, and thereafter the decision to undertake a mandatory tender offer in respect of shares held by the shareholders of AS Tallinna Vesi. According to the resolution, the City of Tallinn along with OÜ Utilitas shall undertake, under the conditions provided by law, a mandatory tender offer to the shareholders of AS Tallinna Vesi in respect of the six million (6,000,000) A- shares in AS Tallinna Vesi, on the condition that 50% of the shares, serving as the subject matter of the tender offer, shall be acquired by the City of Tallinn and 50% by OÜ Utilitas. The final number of shares to be acquired through the tender offer shall be dependent upon how many shareholders decide to accept the tender offer. The tender offer shall be undertaken after the actual completion of acquisition of the shareholding from United Utilities (Tallinn) B.V. and the receipt of approvals from the Financial Supervision Authority required for carrying out a mandatory tender offer. Considering the arrangements on the management of AS Tallinna Vesi going forward, the City of Tallinn and OÜ Utilitas have agreed that the Supervisory Board of the company will continue to have nine members. Under the agreement, after the completion of the transaction, the City of Tallinn will be entitled to nominate candidates for four members of the Supervisory Council (two of them by direct appointment) and OÜ Utilitas will be entitled to nominate candidates for three members of the Supervisory Council (two of them by direct appointment). Two members of the Supervisory Council shall continue to be elected from among independent candidates. The Chairman of the Supervisory Council shall be elected from among the members of the Supervisory Council appointed by OÜ Utilitas. The Deputy Chairman of the Supervisory Council shall be elected from among the members of the Supervisory Council appointed by the City of Tallinn. The Management Board of the Company shall have two to three members. OÜ Utilitas shall nominate candidates for at least two members of the Management Board, and the Chairman of the Management Board shall be elected from among the members of the Management Board appointed by OÜ Utilitas. The management of the company and the relations between the shareholders shall be regulated by the shareholders agreement among the City of Tallinn, OÜ Utilitas and AS Tallinna Vesi, and the investors shall be duly notified of the terms and conditions of such shareholders agreement. Kristi Ojakäär AS Tallinna Vesi CFO (+372) 62 62 262 [email protected] (mailto:[email protected])