News

Resolution about acquisition of shareholding

On 13th of December 2018 the supervisory board of AS Skano Group adopted a resolution by which it was decided that OÜ Skano Fibreboard, a company 100% owned by AS Skano Group, is allowed to acquire additional shareholding in AS Trigon Property Development. Right now OÜ Skano Fibreboard owns 15,6% of the shares of AS Trigon Property Development. According to the resolution of the supervisory board OÜ Skano Fibreboard is allowed to acquire additionally up to 102,900 shares of AS Trigon Property Development with the price of 50,000 EUR. OÜ Trigon Wood is the seller of the shares. Accordingly, OÜ Skano Fibreboard will acquire additionally approximately 2.28% shareholding in AS Trigon Property Development and its shareholding will increase to 17,8%. The transaction will be concluded latest by 21st of December 2018.

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 OÜ Skano Fibreboard’s shareholding in a company owning real estate.

Pursuant to the rules for issuers as established by the NASDAQ OMX Tallinn Stock Exchange, a transaction between OÜ Skano Fibreboards and OÜ Trigon Wood is considered a related-party transaction. OÜ Trigon Wood owns major shareholding in AS Skano Group as well as significant 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 44.02% to 41.74%.

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

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

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