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Decisions of the Annual General Meeting of shareholders of Arco Vara AS

Teade

The  annual general meeting of shareholders of Arco Vara AS held on 14 May 2021
adopted the following decisions:

 1. To approve the annual report of Arco Vara AS for 2020.
 2. To allocate the net profit for the year ended on 31 December 2020 in the
    amount of 1012 thousand EUR to retained earnings;

To pay dividends to the shareholders 0.06 euros per share. 390,000 new shares to
be issued will also be taken into account when paying the dividend. The dividend
will be paid out in 4 instalments as follows:

      * 0.03 euros per share will be paid to the shareholders on 15 June 2021 by
        transfer to the shareholder's bank account. The list of shareholders
        entitled to respective dividends (record date) shall be fixed on 8 June
        2021.
      * 0.01 euros per share will be paid to the shareholders on 15 September
        2021 by transfer to the shareholder's bank account. The respective
        dividend record date is on 8 September 2021.
      * 0.01 euros per share will be paid to the shareholders on 15 December
        2021 by transfer to the shareholder's bank account. The respective
        dividend record date is on 8 December 2021.
      * 0.01 euros per share will be paid to the shareholders on 15 March 2022
        by transfer to the shareholder's bank account. The respective dividend
        record date is on 8 March 2022.

 1. To approve the dividend policy of Arco Vara AS until the end of 2023. As of
    the second quarter of 2021, a dividend of at least 0.01 euros per share will
    be paid to shareholders in each quarter and additional pay out based on
    audited net profit of the previous financial year.
 2. To increase the share capital of Arco Vara AS in accordance with the
    resolution of the general meeting of 10 May 2016 as follows:

      * To issue 390,000 new ordinary shares with a nominal value of 0.7 euros
        per share.
      * The issue price of one new share is 0.7 euros.
      * The new amount of the share capital is 6,571,856.90 euros.
      * According to the terms and conditions of the convertible bond, issued on
        the basis of the Management Board Member's motivation scheme, the new
        shares are deemed to be subscribed and paid by Tarmo Sild. For the
        shares, subscribed for in 2019, 273 000 euros have been paid on 17 April
        2020 by OÜ Alarmo Kapital to whom Tarmo Sild transferred his right to
        obtain the shares.
      * Existing shareholders will not acquire any rights in relation to the new
        shares to be issued, including the pre-emptive right to subscribe for
        the new shares in accordance with § 345 subsection 1 of the Commercial
        Code.


Dividend payment ex-date of Arco Vara AS

Taking  into account that the list of shareholders who are entitled to dividends
(record date) shall be fixed on the following dates:

  * 8 June 2021;
  * 8 September 2021;
  * 8 December 2021;
  * 8 March 2022.

Arco  Vara AS hereby  informs that the  respective dividend payment ex-dates are
the following:

  * 7 June 2021;
  * 7 September 2021;
  * 7 December 2021;
  * 7 March 2022.


Tiina Malm
CFO
Arco Vara AS
+372 6144 630
[email protected]