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DECISIONS OF ANNUAL GENERAL MEETING OF SHAREHOLDERS OF TALLINNA KAUBAMAJA GRUPP 12.04.2016

TALLINN, 12.04.2016, www.nasdaqbaltic.com - Shareholders of Tallinna Kaubamaja Grupp approved the annual report of the company for 2015 and the profit distribution proposal.  

The Annual General Meeting of Shareholders of Tallinna Kaubamaja Grupp AS was held on 12 April 2016 in the Conference centre of Nordic Hotel Forum, Viru väljak 3, Tallinn. 32,330,056 votes, i.e. 79.38% of the Company's 40,729,200 votes were represented at the meeting.

The decisions of the General Meeting were as follows:

1. Approval of the annual report of Tallinna Kaubamaja Grupp AS for 2015

With 32,278,252, i.e. 99.84% votes in favour, to approve the annual report of Tallinna Kaubamaja Grupp AS for 2015, according to which the consolidated balance sheet of Tallinna Kaubamaja Grupp AS as at 31.12.2015 is 347,980 thousand euros, the sales revenue for the accounting year is 555,447 thousand euros and the net profit 22,071 thousand euros.

2. Profit distribution

With 32,098,479 i.e. 99.28% votes in favour, to approve the profit distribution proposal of 2015 of Tallinna Kaubamaja Grupp AS as follows:

Retained profits of previous years 73,197 thousand euros
Net profit of 2015 20,071 thousand euros
Total distributable profit as at 31.12.2015 95,268 thousand euros
To pay dividends 0.52 euros per share 21,179 thousand euros
Retained profits after distribution of profits 74,089 thousand euros
The list of shareholders with a right to receive dividends shall be fixed as at 26 April 2016 at 23.59. Dividends shall be paid to the shareholders via transfer on 27 April 2016 to a bank account of a shareholder.

Raul Puusepp
Chairman of the Board