News

SKN: Acquisition of shareholding

On 12.12.2017 AS Skano Group concluded the contract with its mother company OÜ Trigon Wood for purchase of minority shareholding in AS Trigon Property Development. The transaction was executed on 12.12.2017.

As a result of the transaction AS Skano Group acquired 346,667 shares of AS Trigon Property Development for 182,000.17 EUR, which represents 7.71% of all AS Trigon Property Development shares.

AS Trigon Property Development is a property development company listed on NASDAQ OMX Tallinn Stock Exchange. Currently, AS Trigon Property Development owns one property development project, which is the land-area in Niidu area, Pärnu city, Estonia.

The goal of purchase of the participation was to increase AS Skano Group’s shareholding in a company owning real estate.

Pursuant to the rules for issuers as established by the NASDAQ OMX Tallinn Stock Exchange, the abovementioned sales transaction is considered a related-party transaction. OÜ Trigon Wood owns major shareholding in AS Skano Group as well as the major shareholding in AS Trigon Property Development. As a result of the transaction the shareholding of OÜ Trigon Wood in AS Trigon Property Development shall decrease from 59.6% to 51.91%.

The members of the supervisory and executive boards of AS Skano Group have no other, personal interests in the transaction. The transaction was concluded in accordance with current market conditions. The transaction has no significant effect on profit, assets and liabilities of AS Skano Group.

AS Trigon Property Development and AS Skano Group do not have any valid agreements.

Torfinn Losvik
Member of the Management Board
+ 372 56 99 09 88
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