Resolutions of the annual general meeting

The annual general meeting of shareholders of AS Merko Ehitus was held on 6 May 2020 and the following decisions were made:
  
1. Approval of the annual report of the year 2019
  
The general meeting of shareholders decided to approve the annual report of the financial year 2019 of AS Merko Ehitus.
  
2. Decision on distribution of profits
  
It was decided to:
(i) approve the net profit for the financial year 2019 as EUR 16,269,700;
(ii) leave the net profit undistributed and to allocate the net profit of the financial year 2019 to retained earnings.
  
3. Deciding on the number of members of the Supervisory Board
  
It was decided that the Supervisory Board will have 3 (three) members who will be elected for the term of next 3 (three) years.
  
4. Extension of powers of members of the Supervisory Board
  
It was decided to:
(i) extend the terms of office of current members of the Supervisory Board, Toomas Annus, Teet Roopalu and Indrek Neivelt, until 6 May 2023, i.e. for a period of three years from the moment of deciding the extension;
(ii) continue remuneration of members of the Supervisory Board based on terms and conditions approved at special general meeting of shareholders of AS Merko Ehitus, held on 31 October 2008.
  
  
Andres Trink
Chairman of the Management Board
AS Merko Ehitus
[phone]
[e-mail]
  
AS Merko Ehitus (group.merko.ee) group consists of AS Merko Ehitus Eesti in Estonia, SIA Merks in Latvia, UAB Merko Statyba in Lithuania and Peritus Entreprenør AS in Norway. Besides providing construction service as a main contractor, the group’s other major area of activity is apartment development. As at the end of 2019, the group employed 694 people, and the group’s revenue for 2019 was EUR 327 million.