Arco Vara : Decisions of Annual General Meeting of Shareholders of Arco Vara AS
June 01, 2017 at 03:56 am EDT
Share
To increase the share capital of Arco Vara AS conditionally by issuing up to 12 convertible bonds with the nominal value of 500 euros each in accordance with the conditions of the convertible bonds which are included in the materials of the AGM made available to the shareholders;
provided that the net profit of Arco Vara group for the years 2017-2019 is at least 5.5 million euros, the convertible bonds will give the owners the right to subscribe for the total of up to 200,000 shares of Arco Vara AS for 0.7 euro per share starting from 10 May 2020 until 31 December 2020;
in case of subscription the Management Board of Arco Vara may increase the share capital by up to 140,000 euros, i.e by 200,000 shares;
the existing shareholders will waive their pre-emptive rights for the subscription of the convertible bonds as well as the pre-emtive rights for the shares issued after the conversion of the convertible bonds.
Arco Vara AS published this content on 01 June 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 01 June 2017 07:55:26 UTC.
Original documenthttp://www.arcovara.ee/en/company-investor/news-from-our-countries/225-2017/105607-decisions-of-annual-general-meeting-of-shareholders-of-arco-vara-as
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Arco Vara AS is an Estonia-based company active within the property industry. The Company focuses on the building construction, civil engineering, special engineering and real estate services. Its business consists of three segments: Development segment, which is engaged in the development of residential and commercial environments, as well as long-term investment in real estate; Service segment, which is involved in the real estate brokerage, valuation and management, and short-term investment in real estate, and Construction segment, which provides general and sub-contracting in the field of general construction, civil and environmental engineering, and construction supervision services. Arco Vara AS has numerous subsidiaries, including Arco Lozen EOOD, Acro Invest EOOD, and Acro Real Estate SIA. The Company operates in Estonia, Latvia and Bulgaria.
ARCO VARA 