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Decisions of the Annual General Meeting of Shareholders of AS Tallinna Vesi

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AS Tallinna Vesi’s Annual General Meeting of Shareholders was held on Thursday,
1st of June 2017 from 09:00-9:54 at the Tallink Spa&Conference Hotel conference
room “Galaxy”. 14,719,829 votes, i.e. 73.6% of the Company’s 20 million votes
were represented at the meeting. 


THE AGENDA OF THE ANNUAL GENERAL MEETING:

1. Approval of the 2016 Annual Report

RESOLUTION: with 14,712,079 votes in favour ( i.e. 99.95% of all votes
represented at the Annual General Meeting) to approve the 2016 Annual Report. 

2. Distribution of profit

RESOLUTION: with 14,714,749 votes in favour (i.e. 99.97% of all votes
represented at the Annual General Meeting) to approve the profit distribution
proposal. 

The net profit of the Company in 2016 is 18,390,000 (eighteen million three
hundred and ninety thousand) euros. To distribute EUR 10,800,600 (ten million
eight hundred thousand and six hundred) euros of AS Tallinna Vesi’s retained
earnings of 51,384,000 (fifty one million three hundred and eighty four
thousand) euros as of 31.12.2016, incl. from the net profit 18,390,000
(eighteen million three hundred and ninety thousand) euros for the year 2016,
as dividends, of which 0.54 (zero point fifty four) euros per share shall be
paid to the owners of the A-shares and 600 (six hundred) euros per share shall
be paid to the owner of the B-share. Remaining retained earnings will remain
undistributed and allocations from the net profit will not be made to the
reserve capital. 

Based on the dividend proposal made by the Management Board, the Council
proposes to the general meeting to decide to pay the dividends out to the
shareholders on 26th June 2017 and to determine the list of shareholders
entitled to receive dividends on the basis of the share ledger as at 23.59 on
16th June 2017. 

3. Recalling Mr. Mart Mägi from the Supervisory Council of AS Tallinna Vesi

RESOLUTION: with 14,683,636 votes in favour (i.e. 99.75% of all votes
represented at the Annual General Meeting) to recall Mr. Mart Mägi from the
Supervisory Council of AS Tallinna Vesi. 

4. Extension of the term of a Supervisory Council member and election of a new
Supervisory Council member 

RESOLUTION 1: with 14,681,946 votes in favour (i.e. 99.74% of all votes
represented at the Annual General Meeting) to extend Mr. Allar Jõks’ term as a
Supervisory Council member of AS Tallinna Vesi retrospectively from the expiry
of his term on 29.05.2017 and proactively as from the date of the adoption of
this resolution for a new statutory term. 

RESOLUTION 2: with 14,582,564 votes in favour (i.e. 99.07% of all votes
represented at the Annual General Meeting) to elect Priit Rohumaa as a
Supervisory Council member of AS Tallinna Vesi from 01.06.2017. 

5. Election of the auditor

RESOLUTION: with 14,682,736 votes in favour (i.e. 99.75% of all votes
represented at the Annual General Meeting) to appoint AS PriceWaterhouseCoopers
as the auditor and Mr. Ago Vilu as the lead auditor for the financial year of
2017. To pay the fee to the auditor as per contract to be entered into. 

6. CEO update

CEO update can be found here.




         Eliis Vennik
         Head of Communications
         AS Tallinna Vesi
         Tel: (+372) 62 62 275
         [email protected]