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PROPERTY:

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Notice about the statement of claim

Tallinna Vesi
·2-min read

Harju County Court has accepted a claim brought by OÜ Salinee on 12.11.2021 against AS Tallinna Vesi for the compensation of an allegedly overpaid price for the consumed water services, which Tallinna Vesi does not consider justified.

The claimant has joined the claims from various undertakings from 2011 to 2019 in the amount of EUR 6 977 340.52 plus interests. In addition, the claimant has requested that the proceeding be suspended until a final ruling has been issued in the civil case pending before the Harju County Court, where nine undertakings claimed compensation of EUR 1.4 million in the same circumstances. The procedure is at a very early stage in the court of first instance and no hearing has taken place. In the Company’s opinion the current proceedings of action have no impact on the price of shares.

Tallinna Vesi has always acted legitimately by applying fair tariffs imposed in accordance with the law in force. In Tallinna Vesi’s opinion, the claims are unfounded, and the Company disputes them in every way.

Aleksandr Timofejev, Chief Executive Officer of AS Tallinna Vesi: “The Company has always acted legitimately by applying fair tariffs imposed in accordance with the law in force, and in our opinion, there are no grounds for submitting claims. The water tariff applied in the service area of Tallinna Vesi is one of the lowest in Estonia. Regular laboratory tests and customer feedback confirm that drinking water is of high quality and consumers are pleased with our services. To ensure this, we are making continuous investments to improve the water service.”

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In Tallinna Vesi’s opinion, the current proceedings of action have no impact on the Company’s financial results or the price of shares. The legal opinion issued at the request of the Company also assessed the claims as unfounded. “To hedge the risks, however, we have formed a provision to ensure the Company's sustainable development and continue with planned investments,” Timofejev said.

Laura Korjus
Head of Communications
AS Tallinna Vesi
(+372) 626 2271
laura.korjus@tvesi.ee