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News
27.08.2009: Decisions of the special general meeting of shareholders of Arco Vara AS
The special general meeting of shareholders of Arco Vara AS was held today, on 27 August 2009 at Reval Hotel Central, Narva mnt 7c, in Tallinn.
The special general meeting of shareholders of Arco Vara AS started at 9.07 a.m. and ended at 9.15 a.m. and it was competent to pass decisions regarding the items on the agenda. The agenda of the special general meeting of shareholders of Arco Vara AS was published in the newspaper Postimees on 19 August 2009, in the information system of the Tallinn Stock Exchange and on the website of Arco Vara AS http://www.arcorealestate.com.
The following decision was passed at the special general meeting of shareholders of Arco Vara AS:
1.To enact clause 4.1. in the article of association as following “The Management Board of the Company consists of 1 (one) to 5 (five) members elected for three years. Repeated electing of the Members of the Management Board is allowed.“ In conjunction with the amendments in current clause the new wording of article of association should be adopted.
The number of the votes given in favor of the resolution was 54 208 055 which accounted for 70.80 % of the registered participants. The number of the votes given against the resolution was 22 358 584 which accounted for 29.20 % of the
registered participants. There were no impartial votes and every participant voted.
According to the clause 300 sub-clause 1 in the Commercial Code a resolution on amendment of the articles of association shall be adopted if at least two-thirds of the votes represented at a general meeting are in favor as well the articles of association of Arco Vara AS have not prescribe a greater majority requirement.
The special general meeting of shareholders of Arco Vara AS was held according to law and Article of Association of Arco Vara AS.
Lembit Tampere
CEO
Arco Vara AS
phone: +372 614 4630
lembit.tampere@arcovara.ee
http://www.arcorealestate.com/
