The Annual general meeting of shareholders of Arco Vara AS was held on 13 May
2008 at 13:00. The decisions of the meeting were as follows:
1.To approve the year 2007 annual report of Arco Vara AS
2.Undivided profit as of 31.12.2007 in the amount of 218 830 000 kroons (13
985 786 euros) to be divided as follows:
a)Allocate to the compulsory reserves 11 379 000 kroons (727 251 euros);
b)Share of profit to be paid to shareholders (net dividend) will be 37 210
000 kroons (2 378 152 euros), i.e. 0,39 kroons (0,025 euros) per share;
c)Not to distribute the rest of the profits in amount 170 241 000 kroons (10
880 383 euros)
According to the Tallinn Stock Exchange regulation, the list of shareholders
entitled to dividends for financial year 2007 will be fixed at the 10th
operating day following the general meeting, i.e. on May 27th 2008 at 23:59.
Dividends will be paid out on June 3rd 2008.
3.To appoint 1 auditor for one year (until the next annual general meeting of
shareholders) and to appoint Ernst & Young Baltic AS as such auditor and to pay
to the auditor the fees for the auditing of 2008 financial results according to
the agreement to be signed between Arco Vara AS and Ernst & young Baltic AS.
4.The company is authorized to buy back its own shares under following
1.The company is entitled to buy back its own shares within five years from
the general shareholders meeting's decision;
2.The nominal values of the purchased shares may not exceed 10% of the total
3.The sum paid for one share may not be lower than half of the nominal value
of the share nor exceed the highest price paid for an Arco Vara AS share or
bided independently for an Arco Vara AS share on the Tallinn Stock Exchange on
the same day;
4.Own shares will be paid for with the assets exceeding equity capital,
compulsory reserves and issue premium.
5.To recall Arti Arakas as member of the supervisory board of Arco Vara AS. To
consider the above person recalled and the term of his authority as member of
the supervisory board terminated from the moment of this resolution.
To elect Ragnar Meitern (id. 37309260342) as member of the supervisory board of
Arco Vara AS. To consider the above person elected and the term of his
authority as member of the supervisory board commenced from the moment of this
1 EUR=15.6466 EEK
+372 6144 654
1. ragnar meitern`s short biography.pdf