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Notice to Convene the Annual General Meeting of AS Trigon Property Development and unaudited financial report for the first quarter of 2020

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Notice to Convene the Annual General Meeting of AS Trigon Property Development

The  Annual General  Meeting of  AS Trigon  Property Development (registry code:
10106774, address: Pärnu mnt 18, Tallinn 10141, hereinafter the Company) will be
held on the 18(th) of June 2020 at 12:00 at Pärnu mnt 18, Tallinn 10141.

In  order to protect the health of  all shareholders it is advisable to minimize
the  extent  of  physical  gatherings.  Therefore  and  in accordance with the §
298(2) of  the Commercial Code,  the Management Board  urges the shareholders to
vote  on the draft resolutions prepared in respect to the items on the agenda of
the general meeting using electronic means prior to the general meeting, and not
to participate the general meeting in person.

In order to vote using electronic means the shareholders are to fill in a voting
ballot,  which is attached  to the notice  on convening the  general meeting and
published  on the website of  the Company. The filled  in ballot shall be signed
digitally  and sent to the Management Board by e-mail at [email protected]
(mailto:[email protected]) by no later than on 17 June 2020 at 17:00.

The  general  meeting  proceedings  will  be  limited  to  voting  on  the draft
resolutions.

The agenda of the General Meeting with the proposals of the Supervisory Board:

 1. Approval of the Annual Report 2019

Proposal  of the Supervisory Board: To approve  the Annual Report of the Company
for  2019, which  exposes  the  balance  sheet  value  of  2 193 388 euros as at
31.12.2019 and the net profit of the financial year of 354 412 euros.

 1. 2019 profit allocation proposal

Proposal of the Supervisory Board: To transfer the consolidated net profit in
the amount of 354 412 euros to the loss of previous periods.

 1. Appointment and remuneration principles of auditor for the financial year
    2020

Proposal   of  the  Supervisory  Board:  To  appoint  AS  PricewaterhouseCoopers
(registry  code: 10142876, address: Pärnu mnt  15, 10141 Tallinn) as the auditor
of  the Company for the financial  year 2020. Public accounting services will be
paid for in accordance with the contract to be drawn up with the auditor.

Documents  related to the  annual general meeting,  including draft resolutions,
will be available at the head office of the Company at Pärnu mnt 18, Tallinn and
on Company's web site www.trigonproperty.com (http://www.trigonproperty.com)

At  the Meeting,  the shareholders  are entitled  to receive  information on the
activities  of the Company from the Management Board. If the Management Board of
the Company refuses to provide information, the shareholders may demand that the
General Meeting decides on the legitimacy of their demand, or submit, within two
weeks,  an  application  to  court  in  proceedings  on  petition to require the
Management Board to provide the information.

Shareholders  whose  shares  represent  at  least  1/20 of the share capital are
entitled  to present a  draft resolution on  each agenda item  to the Company at
least  3 days prior  to the  General Meeting,  i.e. until  14(th) June, 2020, by
submitting   it   in   writing   to   e-mail   address:  [email protected]
(mailto:[email protected]).

Shareholders  whose  shares  represent  at  least  1/20 of the share capital are
entitled  to request  the inclusion  of additional  items in  the agenda  of the
General  Meeting of the Company, provided  that the request is submitted 15 days
prior  to  the  General  Meeting  at  the  latest, i.e. until 2nd June, 2020, by
submitting   it   in   writing   to   e-mail   address:  [email protected]
(mailto:[email protected]).

As of the date of publishing of the announcement, the share capital of AS Trigon
Property Development is 2 299 020.17 euros. The company has 4 499 061 shares and
each share gives one vote.

The  date of  closing the  list of  shareholders entitled  to vote at the Annual
General Meeting will be June 10 at 23:59.

Registration  of  the  participants  in  the  meeting will begin at 11:45 on the
18(th) of June 2020.

To register yourself as a participant in the general meeting, please present:
a shareholder who is a sole proprietor - an identity document
a  representative  of  a  shareholder  who  is  a  sole proprietor - an identity
document and a written authorisation document
a  representative of a shareholder who is  a legal person - valid certified copy
of the registry card (for legal persons in Estonia, certified no earlier than 7
days  ago),  which  entitles  the  person  to  represent the shareholder, and an
identity  document of the representative,  or an authorisation document prepared
as  required and  an identity  document of  the representative. We request prior
legalisation   or  apostille  certification  of  documents  of  a  legal  person
registered  in a foreign  country, unless stated  otherwise in the international
agreement.  AS Trigon Property  Development may register  a shareholder who is a
legal  person of a foreign country as  a participant in the general meeting also
in  case  all  required  data  on  the  legal  person and the representative are
included in the notarised authorisation document issued to the representative in
a foreign country and the authorisation document is acceptable in Estonia.
If a shareholder has deposited his/her shares on a nominee account, a respective
certificate issued by the account administrator shall be submitted.
Please present your passport or identity card as an identification document.

A  shareholder may notify the Company of  the appointment of a representative or
withdrawal  of  authorisation  by  a  representative  by  submitting  respective
information  to the  Management Board  of AS  Trigon Property  Development (in a
digitally  signed format which can be reproduced  in writing on the following e-
mail  address: [email protected], or  in writing by  mail at the following
address:  AS Trigon Property Development,  Pärnu mnt 18, Tallinn 10141, Estonia)
no later than on 17(th) of June 2020.
For  the appointment  of a  representative or  withdrawal of  authorisation by a
representative,  a shareholder may use the forms  available on the website of AS
Trigon           Property           Development           www.trigonproperty.com
(http://www.trigonproperty.com)

Unaudited financial report for the first quarter of 2020

The  main business  activity of  Trigon Property  Development AS  is real estate
development.   As  at  31.03.2020, AS  Trigon  Property  Development  owned  one
development  project with an area of 21  hectares in the City of Pärnu, Estonia.
An  industrial and logistics park  is planned to be  developed on this area. The
Company's  objective  is  to  find  companies  willing  to  bring their business
activities  (industry, logistics) to  the development project  area of AS Trigon
Property  Development in Pärnu, which would add value to the land plots owned by
the  Company. The realisation  of the value  of the land  is planned through the
selling  of  land  plots  or  through  the  development  of real estate with the
intention of creating a rental income-generating project.

In  December 2019 the  Company signed  a preliminary  agreement for selling 0.7-
hectare  property  at  the  price  of  78 000 euros.  The real right contract is
scheduled to be concluded at the end of May.

Condensed  statement of financial position as  of 31 March 2020 delivered by the
present  announcement  completely  reflects  the  assets, liabilities and equity
capital of AS Trigon Property Development.

According  to the condensed  statement of comprehensive  income the net loss for
first  quarter of 2020 of AS Trigon Property Development is -7,476 euros and the
earnings per share  is -0.00166 EUR.

As of 31 March 2020 the assets of AS Trigon Property Development were 2,176,894
euros.  The equity of the company  was 2,135,985 euros, corresponding to 98.12 %
of the total balance sheet.

Condensed statement of financial position

+------------------------------+------------+------------+
| EUR                          | 31.03.2020 | 31.12.2019 |
+------------------------------+------------+------------+
| Cash                         | 130,052    | 150,007    |
+------------------------------+------------+------------+
| Receivables and prepayments  | 10,842     | 7,381      |
+------------------------------+------------+------------+
| Total current assets         | 140,894    | 157,388    |
+------------------------------+------------+------------+
| Investment property          | 2,036,000  | 2,036,000  |
+------------------------------+------------+------------+
| Total non-current assets     | 2,036,000  | 2,036,000  |
+------------------------------+------------+------------+
| TOTAL ASSETS                 | 2,176,894  | 2,193,388  |
+------------------------------+------------+------------+
| Payables and prepayments     | 40,909     | 49,927     |
+------------------------------+------------+------------+
| Total current liabilities    | 40,909     | 49,927     |
+------------------------------+------------+------------+
| Total liabilities            | 40,909     | 49,927     |
+------------------------------+------------+------------+
| Share capital at book value  | 2,299,020  | 2,299,020  |
+------------------------------+------------+------------+
| Share premium                | 226,056    | 226,056    |
+------------------------------+------------+------------+
| Statutory reserve capital    | 287,542    | 287,542    |
+------------------------------+------------+------------+
| Accumulated loss             | -676,633   | -669,157   |
+------------------------------+------------+------------+
| Total equity                 | 2,135,985  | 2,143,461  |
+------------------------------+------------+------------+
| TOTAL LIABILITIES AND EQUITY | 2,176,894  | 2,193,388  |
+------------------------------+------------+------------+

Condensed statement of comprehensive income

+-----------------------------------------+----------+----------+
| EUR                                     | 1 Q 2020 | 1 Q 2019 |
+-----------------------------------------+----------+----------+
| Expenses related to investment property | -4,260   | -2,156   |
+-----------------------------------------+----------+----------+
| Gross loss                              | -4,260   | -2,156   |
+-----------------------------------------+----------+----------+
| Administrative and general expenses     | -3,220   | -3,390   |
+-----------------------------------------+----------+----------+
| Operating loss                          | -7,480   | -5,546   |
+-----------------------------------------+----------+----------+
| Net financial income                    | 4        | 2        |
+-----------------------------------------+----------+----------+
| NET LOSS FOR THE PERIOD                 | -7,476   | -5,544   |
+-----------------------------------------+----------+----------+
| TOTAL COMPREHENSIVE LOSS                | -7,476   | -5,544   |
+-----------------------------------------+----------+----------+

Management Board of AS Trigon Property Development
Telephone 6679 200, e-mail [email protected]
(mailto:[email protected])