Skano Group Minutes of annual general meeting 28.06.2016

The Decisions of Annual General Meeting

The Decisions of Annual General Meeting

The Annual 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 28 June 2016.

The general meeting started at 11.00 and ended at 11.30. The shares of the
shareholders who attended the general meeting represented 2 734 295 votes,
constituting 60,77 % of the share capital. Therefore, the general meeting was
competent to pass resolutions regarding the items on the agenda.

Resolutions of general meeting:

1. Approval of the Annual Report for 2015

It was decided to approve the Annual Report of the Company for 2015 prepared by
the Management, which exposes the consolidated balance sheet value of 13 262
thousand euros and the net loss in the amount of 411 thousand euros as at

2. Covering the loss in 2015

It was decided to approve to cover the loss from the financial year 2015 of 411
thousand euros from the account of retained earnings of previous periods.

3. Changes in the Supervisory Board

It was decided to recall Pekka Armas Soikkeli from the position of Supervisory
Board Member as of 28.06.2016 and elect Martin Mets to the position of
Supervisory Board Member with the term of office of 5 (five) years as of

4. Appointment and remuneration principles of auditor for the financial year

It was decided to appoint AS PricewaterhouseCoopers (registry code: 10142876,
address: Pärnu mnt 15, 10141 Tallinn) as the auditor of the Company for the
financial year 2016. Public accounting services will be paid for in accordance
with the contract to be drawn up with the auditor.

Gregory Devine Grace


+372 447 8338

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