You are currently on group.merko.ee – AS Merko Ehitus page about the group.

AGM 2004

DECISIONS OF ANNUAL GENERAL MEETING

Minutes of the annual general meeting of shareholders (excerpt) in Tallinn, on 07.04.2004.

I. Approving of 2003 annual report

Having reviewed the annual accounts and activity report (“Annual Report”), auditor’s report and profit distribution proposal of AS Merko Ehitus for 2003, to resolve to approve the Annual Report of 2003 prepared by the board of AS Merko Ehitus and approved by the council.

II. Deciding on the distribution of profit

It was resolved to distribute the profit of AS Merko Ehitus on the basis of the approved annual accounts pursuant to the profit distribution proposal submitted to the general meeting as follows:

(i) to approve the net profit of the financial year of 2003 in the amount of 184 472 685 (one hundred and eighty-four million four hundred and seventy-two thousand six hundred and eighty-five) Estonian kroons (EUR 11 789 923);

(ii) to pay dividends to shareholders from the net profit of 2003 in the total amount of 37 170 000 (thirty-seven million one hundred and seventy thousand) Estonian kroons (EUR 2 375 590), which makes 4 kroons and 20 sents (EUR 0,27) per share;

all shareholders entered in the share ledger of AS Merko Ehitus as of 22 April 2004 at 8:00 hours a.m. are entitled to dividends;

dividends shall be paid to shareholders not later than on 23 April 2004 by remitting the respective amount to the current account tied to the shareholder’s securities account;

(iii) to maintain the rest of the net profit undivided.

III. Appointment of auditor for the financial year of 2004

It was resolved to appoint auditing company “Audit EA”, as auditor of AS Merko Ehitus for the financial year of 2004 and to pay to them pursuant to the contract to be concluded.


ANNUAL GENERAL MEETING OF SHAREHOLDERS

The Board of AS Merko Ehitus announces that the regular general meeting of shareholders of AS Merko Ehitus, located at 9G Järvevana road, Tallinn 11314, takes place on the 7th of April 2004 at 16:00 PM in the “Stuudio I” conference room of the hotel Central at 7c Narva St, Tallinn.

Agenda of the meeting:

1. Approval of the 2003 annual report;
The chairman of the meeting moves that shareholders approve the annual report of AS Merko Ehitus for 2003.

2. Deciding the profit distribution;
The chairman of the meeting moves that shareholders approve the following profit distribution proposal:

(i) to approve the net profit of the financial year of 2003 in the amount of 184 472 685 Estonian kroons (EUR 11 789 923);

(ii) to pay dividends to shareholders from the net profit of 2003 in the total amount of 37 170 000 Estonian kroons (EUR 2 375 590), which makes 4 kroons and 20 sents (EUR 0,27) per share;

all shareholders entered in the share ledger of AS Merko Ehitus as of 22 April 2004 at 8:00 hours a.m. are entitled to dividends;

dividends shall be paid to shareholders not later than on 23 April 2004 by remitting the respective amount to the current account tied to the shareholder’s securities account;

(iii) to maintain the rest of the net profit undivided.

3. Appointment of auditor for financial year of 2004.
The chairman of the meeting moves that shareholders appoint Malle Rannik, certified auditor from auditing company “Audit EA”, as auditor of AS Merko Ehitus for the financial year of 2004 and to pay to her pursuant to the price list established by Audit EA.

The suffrage of the shareholder at the general meeting will be determined on the basis of the minutes book as of 07.04.2004 at 8:00 AM. The registration of the participants of the meeting will start on the 7th of April 2004 at 15:30 PM.

Upon registration the legitimate representatives of the corporate shareholders are asked to submit the documents, which would approve their right to representation. For the board members of a corporate body it is a copy of the registration card of the company, for the authorized representatives it is the authorization from the board or its substitute and a copy of the registration card of the company. The document for personal identification will be required. The individual shareholders will be asked to submit the document for personal identification, a representative will be asked to submit also the authorization. A passport or other identity document containing the photograph, name, and personal identification code of the person and the name of the state agency having issued the document is acceptable as an identity document.

The annual report 2003 will be available for viewing from the 18th of March at Internet homepages of Tallinn Stock Exchange (www.hex.ee) and Merko Ehitus (www.merkoehitus.ee), and on every workday from 8:00 AM to 5:00 PM at the office of AS Merko Ehitus, 9G Järvevana road, Tallinn.

For any further questions concerning the general meeting, please contact us by telephone +372 6 805 105.