Börsiteade

Pealkiri

Decisions of the annual general meeting of shareholders of Tallinna Kaubamaja AS 28.04.2011

Teade

The Annual General Meeting of Shareholders of Tallinna Kaubamaja AS was held on
28 Aprill 2011 in the Conference centre of Radisson Blu Hotel Olümpia,
Liivalaia 33, Tallinn. 30,720,437 votes, i.e. 75.43% of the Company`s
40,729,200 votes were represented at the meeting. 

The decisions of the General Meeting were as follows:

1. Approval of the annual report of Tallinna Kaubamaja AS for 2010

With 30,710,537, i.e. 99.97% votes in favour, to approve the annual report of
Tallinna Kaubamaja AS for 2010, according to which the consolidated balance
sheet of Tallinna Kaubamaja AS as at 31.12.2010 is 4,071,422 thousand kroons,
the sales revenue for the accounting year was 6,302,023 thousand kroons and the
net profit 260,455 thousand kroons. 

2. Profit distribution

With 30,719,801, i.e. 100.00% votes in favour, to approve the profit
distribution proposal of 2010 of Tallinna Kaubamaja AS as follows: 

Retained profits of previous years                                 482,686
thousand kroons 

Net profit of 2010                                                          
260,455 thousand kroons 

Total distributable profit as at 31.12.2010                    743,141 thousand
kroons 

To pay dividends 0.28 euros (EEK 4.381)

per share                                                                      
178,437 thousand kroons 

Retained profits after distribution of profits                   564,704
thousand kroons 

The list of shareholders with a right to receive dividends shall be fixed as at
12.05.2011 at 23.59. Dividends shall be paid to the bank accounts of
shareholders via transfer on 13.05.2011. 

3. Amendment of the Articles of Association

With 30,709,301, i.e. 99.96% votes in favour, to amend the Articles of
Association and approve the new wording. 

4. Recalculation of the share capital into euros and reduction of the share
capital. 

With 30,674,250, i.e. 99.85% votes in favour,

1) In relation to the adoption of the euro in the Republic of Estonia, the
nominal value of shares and share capital of the public limited company shall
be calculated into euros. The nominal value of one share of the public limited
company is EEK 10, which, according to the rules of approximation stated in §
525³ of the Commercial Code, makes up EUR 0.64. The registered share capital of
the public limited company is EEK 407,292,000, which, according to the rules of
approximation stated in § 525³ of the Commercial Code, makes up EUR
26,030,703.16. Approximation of the results of recalculation of the nominal
value of shares has no legal meaning. 

2) Due to the norm stipulated by §223 (1) of the Commercial Code, the lowest
nominal value of a share is 10 cents, and by the norm stated in §223 (2) of the
Commercial Code, that if the nominal value of a share is higher than 10 cents,
it shall be in multiples of 10 cents, the share capital of the public limited
company shall be reduced by EUR 1,593,183.16 to EUR 24,437,520 by reducing the
nominal value of shares, and the nominal value of share shall be reduced by 4
cents to 60 cents. 

In relation to reduction of the share capital, no payments shall be made to
shareholders. The sum, EUR 1,593,183.16, formed in reduction of share capital,
shall be added to the retained profits of the previous periods. 

3) The list of shareholders participating in reduction of share capital shall
be fixed as at 12.05.2011 at 23.59. 


         Raul Puusepp
         Chairman of the Board
         Phone +372 731 5000