Dear Shareholder of Arco Vara AS,
Arco Vara AS (registry code 10261718; located at Tallinn, Jõe 2B) shareholders ordinary general meeting will take place on May 22nd 2009 at 9:00AM in Tallinn, Viru Väljak 3, at the Nordic Hotel Forum room Vega.
The agenda of the general meeting:
1. Approval of the year 2008 annual report
The Council of Arco Vara proposes the annual report for 2008 be approved.
2. Profit allocation
2.1 The Council of Arco Vara proposes covering the loss as of 31.12.2009 in the amount of
EUR 62 931 755 (EEK 984668000) as follows:
a) From the account of issue premium in the amount of EUR 45537944 (EEK 712514000);
b) Rest of the loss in the amount of 17393811 (EEK 272154000) will be covered from the future profits.
3. Appointment of auditor
3.1 The Council of Arco Vara proposes the shareholders appoint the auditor for one year (until the next ordinary shareholders general meeting) and appoint Ernst & Young Baltics AS as such auditor.
3.2. The Council of Arco Vara proposes the auditor be paid for auditing the 2008 annual report according to an agreement to be signed between the company and Ernst & Young Baltics AS.
Materials of shareholders ordinary meeting of Arco Vara AS are available through internet website of Arco Vara http://www.arcorealestate.com/en/investor-info or at the office of Arco Vara AS in Tallinn, at Jõe street 2B, on workdays from 9:00AM till 5:00PM.
The list of shareholders entitled to participate at the annual general meeting shall be determined at 11:59PM on day immediately prior to the meeting.
Registering to participate in the meeting will convene at 8:30AM on May 22nd 2009.
To register, we kindly ask shareholders to present an ID document and the representative of the shareholder additionally to present also a signed Power of Attorney or documents validating representation.
Management Board of Arco Vara AS