Pēd. atjaunots: 20.07.2024 11:02 (GMT+3)

TKM: Foundation of a subsidiary of Tallinna Kaubamaja Kinnisvara AS

07.12.2004, TKM Grupp, TLN
Tallinna Kaubamaja                ANNOUNCEMENT                   07.12.2004

Foundation of a subsidiary of Tallinna Kaubamaja Kinnisvara AS

On 3 December Tallinna Kaubamaja Kinnisvara AS (the real estate company) founded
a full subsidiary Tartu Kaubamaja Kinnisvara OÜ. The purpose of the foundation
was to implement the project of the construction and development of the Tartu
Kaubamaja building and later the maintenance of the object.

The share capital of Tartu Kaubamaja Kinnisvara OÜ is 40 thousand kroons (2.6
thousand euros). The Chairman of the Board is Peeter Kütt and the members of the
Supervisory Board are Enn Kunila, Jüri Käo, Andres Järving, Indrek Vanaselja and
Raul Puusepp.

After the company has been entered into the Business Register, the real estate
with the address at Riia 1, Vanemuise 2 and Küüni 14, Tartu will be sold at
balance sheet value to Tartu Kaubamaja Kinnisvara OÜ.

The closed net area of the building is 27 500 sq m, including rentable business
area of 14 400 sq m. There will be over 200 parking places in the building. The
construction will be completed in August 2005.


Katrin Mühls
CFO and Sales Director
Tallinna Kaubamaja AS
phone +372 6 673 200

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