Estonia, Industry, Markets and Companies, Real Estate
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Thursday, 28.03.2024, 11:28
Estonia: Skano to increase shareholding in Trigon to 17.8%
The supervisory board of AS
Skano Group adopted a resolution on Thursday by which it was decided
that OU Skano Fibreboard, a
company fully owned by AS Skano Group,
is allowed to acquire additional shareholding in AS Trigon Property Development. OU Skano Fibreboard currently owns 15,6% of the shares of AS Trigon
Property Development. According to the resolution of the supervisory board, OU Skano Fibreboard is allowed to
acquire additionally up to 102,900 shares of AS Trigon Property Development with the price of 50,000 euros, Skano told the stock exchange.
OU Trigon Wood is
the seller of the shares. Accordingly, OU
Skano Fibreboard will acquire additionally an approximately 2.28%
shareholding in AS Trigon Property
Development and its shareholding will increase to 17.8%. The transaction
will be concluded by December 21 at the latest.
AS Trigon Property
Development is a property development company listed on the Nasdaq Tallinn
stock exchange. Currently, AS Trigon
Property Development owns one property development project, which is the
land-area in the Niidu area of the city of Parnu.
Pursuant to the rules for issuers as established by the
Nasdaq Tallinn stock exchange, a transaction between OU Skano Fibreboard and OU
Trigon Wood is considered a related-party transaction. OU Trigon Wood owns the major shareholding in AS Skano Group as well as significant shareholding in AS Trigon Property Development. As a
result of the transaction, the shareholding of OU Trigon Wood in AS Trigon
Property Development shall decrease from 44.02% to 41.74%.
The members of the supervisory and executive boards of AS Skano Group and the executive board of OU Skano Fibreboard have no other
personal interests in the transaction. The transaction will be concluded in
accordance with current market conditions. The transaction has no significant
effect on profit, assets and liabilities of AS
Skano Group or OU Skano Fibreboard.