27. The foundation of a subsidiary UAB Skano LT with share capital of 10,000 lit (45,315 kroons / 2,896 euros) was completed on April 27, 2007. The shares of the company are 100% hold by Skano OÜ, a subsidiary of Viisnurk AS. The purpose of establishing UAB Skano LT was to start retail of furniture in Klaipeda, Kaunas and Vilnius.

Developing retail business is a part of the business strategy of the Furniture Division of Viisnurk AS aimed at moving closer to the end user. Skano is a trademark of Viisnurk AS for furniture.

Viisnurk AS is a wood-processing company that manufactures and markets domestic furniture and building materials. It holds 100% of the shares of its subsidiary, Skano OÜ. The latter, in turn, holds 100% of the shares of the subsidiary SIA Skano situated in Latvia.