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Share capital increase / Transaction with related party

·1-min read

On 10 May, 2016, the Annual General Meeting of Arco Vara AS adopted the decision to issue a convertible bond, which gave to the owner of it the right to subscribe for 390 000 shares 0.7 euros per share (hereinafter “Convertible Bond”). As 390 000 were subscribed for, Arco Vara AS has issued the corresponding new shares. On 27 May, 2021, the share capital of Arco Vara AS increased by 273 000 euros, i.e. the new share capital is 6,571,856.9 euros.

The owner of the Convertible Bond, the Supervisory Board member (former Management Board member) of Arco Vara AS Tarmo Sild, transferred the right of subscription to OÜ ALARMO KAPITAL who exercised it. OÜ ALARMO KAPITAL is associated with the Supervisory Board members of Arco Vara AS Tarmo Sild and the Allar Niinepuu.

On 27 May, 2021, the entry regarding the increase of the share capital of Arco Vara AS was made in the Commercial Register.

Arco Vara AS has submitted the application for the listing and admission to trading of the new shares on the Baltic Main List of the Nasdaq Tallinn Stock Exchange. Upon the approval of the application, trading with the new shares is expected to start on or about 01.06.2021.


Tiina Malm
CFO
Arco Vara AS
+372 6144 630
tiina.malm@arcovara.com