On 16.07.2018 Skano Fibreboard OÜ concluded the contract with its mother company OÜ Trigon Wood for a purchase of minority shareholding in AS Trigon Property Development. The transaction was executed on 16.07.2018. 

As a result of the transaction, Skano Fibreboard OÜ acquired 355,000 shares of AS Trigon Property Development for 179,275.00 EUR, which represents 7.89% of all AS Trigon Property Development shares. Skano Fiberboard OÜ now owns 15.59% of the voting shares of AS Trigon Property Development.

AS Trigon Property Development is a property development company listed on NASDAQ OMX Tallinn Stock Exchange. Currently, AS Trigon Property Development owns one property development project, which is the land-area in Niidu area, Pärnu city, Estonia. 

The goal of purchase of the participation was to increase Skano Fibreboard OÜ’s shareholding in a company owning real estate.  

Pursuant to the rules for issuers as established by the NASDAQ OMX Tallinn Stock Exchange, the abovementioned sales transaction is considered a related-party transaction. OÜ Trigon Wood owns the major shareholding in AS Skano Group (Skano Fibreboard OÜ is 100% subsidiary of Skano Group AS) as well as the major shareholding in AS Trigon Property Development. As a result of the transaction, the shareholding of OÜ Trigon Wood in AS Trigon Property Development shall decrease from 51.91% to 44.02%.

The members of the supervisory and executive boards of AS Skano Group and the executive board of Skano Fibreboard OÜ have no other, personal interests in the transaction.

The transaction was concluded in accordance with current market conditions. The transaction has no significant effect on profit, assets, and liabilities of Skano Fibreboard OÜ.

AS Trigon Property Development and Skano Fibreboard OÜ do not have any valid agreements.

Torfinn Losvik

Member of the Management Board

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