The annual general meeting of shareholders of Coop Pank AS (registry code 10237832, address Narva mnt 4, Tallinn, 15014; hereinafter the Company) was held on 28 May 2020 at 11:00 at Tallinna Ülikool conference room “Maximum” (Narva mnt 29, Tallinn).

63,133,361 votes were represented at the meeting, representing 70,58% of Company's share capital, and thus the general meeting had a quorum. 111 shareholders were represented at the meeting.

The decisions of the General Meeting were as follows:

  1. Approval of the consolidated Annual Report 2019 of Coop Pank AS.

The general Meeting decided to approve consolidated Annual Report 2019 of Coop Pank AS submitted to the General Meeting.

  1. Profit allocation of Coop Pank AS 2019 financial year.

The general Meeting decided to allocate the net profit of Coop Pank AS in the amount of 5 527 thousand euros as follows:

    • allocate 276 thousand euros to statutory reserve capital;
    • not to allocate profit in any other reserve prescribed by law or Articles of Association and not to use the profit for other purposes;
    • not to pay dividend to shareholders and to allocate 5 251 thousand euros to retained earnings.
  1. Appointment of the auditor for the financial years 2020 – 2022.

The General Meeting decided to appoint Aktsiaselts PricewaterhouseCoopers (registry code 10142876) as the auditor for the financial years 2020 – 2022, to establish the procedure for remuneration of the auditor in accordance with the contract to be entered into with the auditor and to authorize the management Board to conclude the relevant agreement.

  1. Amendment of articles of association

The General Meeting decided to amend the articles of association of the Company and to approve the new wording of the articles of association as submitted to the General Meeting.  

  1. Exclusion of pre-emptive subscription rights

The General Meeting decided to exclude the pre-emptive subscription rights of the existing shareholders for the shares issued to Option Holders in accordance with section 3.3.5 of the Articles of Association for the purpose of executing the share option programme of Coop Pank AS.

  1. Recall of Supervisory Board

The General Meeting decided to recall of all Member of Supervisory Board: Jaanus Vihand, Priit Põldoja, Märt Meerits, Jaan Marjundi and Roman Provotorov.

  1. Election of Supervisory Board

The General Meeting decided to re-elect the Supervisory Board and to appoint the following persons to Supervisory Board:

  • Alo Ivask with authority as of the date of this decision for a term of 3 (three) years.
  • Ardo Hillar Hansson with authority as of 08.06.2020 for a term of 3 (three) years.
  • Jaan Marjundi with authority as of the date of this decision for a term of 3 (three) years.
  • Raul Parusk with authority as of the date of this decision for a term of 3 (three) years.
  • Roman Provotorov with authority as of the date of this decision for a term of 3 (three) years.
  • Silver Kuus with authority as of the date of this decision for a term of 3 (three) years.
  1. Remuneration and compensation of Supervisory Board

The General Meeting decided that Chairman and vice-chairman of Supervisory Board shall be paid 1 500 EUR (gross amount) per month, Member of the Supervisory Board shall be paid 1 000 EUR (gross amount) per month.

An overview of the activities of the members of the Supervisory Board during the previous 3 years is attached.

The minutes of the general meeting shall be made available to the shareholders not later than within 7 (seven) days from the date of the general meeting at Company’s website https://www.cooppank.ee/en/for-investors .

Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The number of clients using Coop Pank for their daily banking has reached 71 100. Coop Pank aims to put the synergy generated by the interaction of retail business and banking to good use and to bring everyday banking services closer to people’s homes. The strategic shareholder of the bank is the domestic retail chain Coop Eesti comprising 330 stores.

Kristjan Seema
Head of Marketing & Communication
Tel: +372 5505 253
e-mail: kristjan.seema@cooppank.ee

Annex:  Information on the supervisory board members

Attachment

  • Annex_Information on the the Supervisory Board members_ENG

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