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Decisions of the extraordinary general meeting of shareholders

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Nordecon AS (registry code 10099962, address Pärnu mnt 158/1, 11317 Tallinn)
extraordinary general meeting of shareholders was held on 2 October 2017 at
10.00 a.m. in the conference centre of Radisson Blu Hotel Olümpia, room Beta
(Liivalaia 33, 10118 Tallinn). 

The shareholders of Nordecon AS made the following decision according to the
proposed agenda: 

Item 1. Additional allocation of profits

RESOLUTION No. 1

To allocate additionally the profit of the Company as follows:  The Company’s
consolidated net profit for 2016 amounted to 3,044 thousand euros, prior period
retained earnings amounted to 10,047 thousand euros and, thus, total
distributable profit as at 31 December 2016 amounted to 13,091 thousand euros.
On 24 May 2017 it was decided to allocate 1,384 thousand euros (0.045 euros per
share) as the profit to be distributed to the shareholders (the dividend) and
not to distribute the rest of the retained earnings in the amount of 11,707
thousand euros. To allocate the amount of 2,009 thousand euros (0.065 euros per
share) as the profit to be additionally distributed to the shareholders (the
dividend). Not to distribute the rest of the retained earnings in the amount of
9,698 thousand euros. No appropriations shall be made to the capital reserve or
other reserves provided for by the law or the articles of association.
Shareholders entitled to dividends include persons entered in the Company’s
share register on 16 October 2017 at 11.59 pm. No dividends shall be paid to
the Company for own shares, the number of eligible shares is 30,913,031. The
dividends will be distributed to the shareholders on 23 October 2017 at the
latest. 

At the extraordinary general meeting of shareholders 19,066,299 ordinary shares
entitled to vote were represented, i.e. 61.68% of total ordinary shares
outstanding. 

Nordecon AS notifies that compared to text in the notice for calling the
extraordinary general meeting of the shareholders of Nordecon AS published on 6
September 2017 in the newspaper “Eesti Päevaleht” and in the 5 September 2017
announcement for the stock exchange about the notice for calling the
extraordinary general meeting of the shareholders of Nordecon AS (and in the
draft of the decision of the extraordinary general meeting of the shareholders
of 2 October 2017 appended thereto) and in the notice for calling the
extraordinary general meeting of the shareholders and in the draft of the
decision of the extraordinary general meeting of the shareholders published on
the website of Nordecon AS, the extraordinary general meeting of the
shareholders of Nordecon AS adopted on 2 October 2017 the decision about the
additional allocation of profit in the revised wording (the wording revised in
the following sentences): “To allocate the amount of 2,009 thousand euros
(0.065 euros per share) as the profit to be additionally distributed to the
shareholders (the dividend).”, “Not to distribute the rest of the retained
earnings in the amount of 9,698 thousand euros.” and “No dividends shall be
paid to the Company for own shares, the number of eligible shares is
30,913,031.”. Compared to the wording of the version of the abovementioned
notice for calling the extraordinary general meeting of the shareholders and
the draft of the decision, the number of eligible shares is 30,913,031, the
amount of the profit to be distributed (the dividend) is 2,009 thousand euros
and the amount of the retained earnings is 9,698 thousand euros. The revision
is made as due to the exercise of the options granted to the executive
management of Nordecon AS, Nordecon AS held 1,462,452 shares on the date the
list of shareholders entitled to vote at the general meeting was determined.
Therefore the number of eligible shares is 30,913,031, the amount of the profit
to be distributed (the dividend) is 2,009 thousand euros and the amount of the
retained earnings is 9,698 thousand euros. 


Nordecon (www.nordecon.com) is a group of construction companies whose core
business is construction project management and general contracting in the
buildings and infrastructures segment. Geographically the Group operates in
Estonia, Ukraine, Finland and Sweden. The parent of the Group is Nordecon AS, a
company registered and located in Tallinn, Estonia. The consolidated revenue of
the Group in 2016 was 183 million euros. Currently Nordecon Group employs close
to 740 people. Since 18 May 2006 the company's shares have been quoted in the
main list of the NASDAQ Tallinn Stock Exchange. 


         Andri Hõbemägi
         Nordecon AS
         Head of Investor Relations
         Tel: +372 6272 022
         Email: [email protected]