Skano Group Minutes of extraordinary general meeting 13.08.2013

The Decisions of Extraordinary General Meeting

Pärnu, 2013-08-13 13:54 CEST (GLOBE NEWSWIRE) -- The Extraordinary General Meeting of shareholders of Skano Group AS (registry code 11421437, address 48 Suur-Jõe, Pärnu 80042) was held in Skano Group AS head office at 48 Suur-Jõe, Pärnu, Estonia, on 13 August 2013.

The general meeting started at 11.00 and ended at 11.30. The shares of the shareholders who attended the general meeting represented 2 746 192 votes, constituting 61.0 % of the share capital. Therefore, the general meeting was competent to pass resolutions regarding the items on the agenda.

Resolutions of the extraordinary general meeting:

1. Transfer of the non-monetary contribution to the subsidiaries Skano Furniture Factory OÜ and Skano Fibreboard OÜ

Approve the passage of resolution made by the sole shareholder of Skano Fibreboard OÜ (Skano Group AS) under which the sole shareholder decided to increase the share capital of Skano Fibreboard OÜ by EUR 20,000. In addition, approve the increase of the share capital of Skano Fibreboard OÜ by a non-monetary contribution. The object of the non-monetary contribution is the set of assets of the fibreboard production unit. The non-monetary contribution shall be finalised 01.09.2013 by the latest.

Approve the passage of resolution made by the sole shareholder of Skano Furniture Factory OÜ (Skano Group AS) under which the sole shareholder decided to increase the share capital of Skano Furniture Factory OÜ by EUR 20,000. In addition, approve the increase of the share capital of Skano Furniture Factory OÜ by a non-monetary contribution. The object of the non-monetary contribution is the set of assets of the furniture production unit. The non-monetary contribution shall be finalised 01.09.2013 by the latest.


Martin Kalle
CFO
+372 447 8331
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www.skano.com