Upcoming Changes at AS Ekspress Grupp's 2025 AGM
Overview of AS Ekspress Grupp's Annual General Meeting Changes
On a recent date in April, AS Ekspress Grupp made a significant announcement relevant to its shareholders regarding the upcoming Annual General Meeting (AGM) scheduled for May 2025. Several changes were initiated, particularly due to the resignation of the Chairman of the Supervisory Board, which led to a revised agenda for the meeting.
Amended Agenda for the General Meeting
The revised agenda reflects a commitment to transparency and shareholder involvement. Shareholders Hans Luik and OÜ HHL Rühm have proposed additional draft resolutions concerning crucial items of discussion at the AGM.
Approval of the 2024 Annual Report
The first item on the agenda is to approve the 2024 annual report, showcasing AS Ekspress Grupp's financial performance for the previous year. This approval is a standard procedural element, aimed at ensuring financial accountability and clarity for all stakeholders.
Distribution of Profits
Next, the meeting will also consider the proposal for profit distribution for the financial year of 2024. A total of EUR 3.25 million has been earmarked for distribution, which includes:
- Dividends of six euro cents per share, summing up to EUR 1.86 million;
- An increase to the statutory reserve by EUR 0.13 million;
- Allocation of the residual EUR 1.26 million to retained earnings.
Shareholders registered by a specified date in June will be eligible for these dividends, with processes in place to ensure that payments are made efficiently.
Supervisory Board Elections
One of the critical aspects of the AGM will be the election of new members to the Supervisory Board. Mr. Ülar Maapalu and Mr. Argo Virkebau have been nominated to serve until May 2030, bringing fresh perspectives and expertise to the leadership.
Remuneration Adjustments
Remuneration for the members of the Supervisory Board is also set for discussion. The proposed monthly fees reflect the company's appreciation for the roles played by these members:
- EUR 2000 for regular board members;
- EUR 4500 for the Chairman of the Supervisory Board.
This adjustment is intended to attract skilled leaders who can drive the company's objectives forward.
Board Member Recall
An additional agenda item involves recalling two members from the Supervisory Board, ensuring a refreshed approach toward governance and operational strategies moving forward.
Statement from the Board
In light of these changes, Hans H. Luik, a founding member and significant shareholder of Ekspress Grupp, expressed valuable insights regarding transitioning in leadership roles. He emphasized the growing importance of adaptability in the media sector, particularly as the landscape shifts toward digital platforms.
Luik affirmed his continued engagement with the Grupp's operations, intending to leverage his experience further across subsidiary boards and content creation efforts. His gratitude was extended to the outgoing Chairman, Priit Rohumaa, for his contributions during his tenure.
Company Overview
AS Ekspress Grupp is recognized as the leading media group in the Baltic region, involved in diverse activities such as web media content creation and print publications. With a workforce nearing 1,100 employees, the company has continually evolved since its inception in 1989.
For those interested in exploring further details regarding the AGM or the company's operations, please contact the Chairman of the Management Board, Mari-Liis Rüütsalu, at the provided contact number or through the official email.
Frequently Asked Questions
What is the purpose of the AGM for AS Ekspress Grupp?
The AGM provides shareholders an opportunity to review the company’s performance, approve annual reports, and discuss essential governance matters.
When is the AGM scheduled?
The AGM is scheduled to take place in May 2025, as announced in the recent updates.
Who has been nominated to the Supervisory Board?
Mr. Ülar Maapalu and Mr. Argo Virkebau have been nominated to serve as members of the Supervisory Board.
How are profits being distributed in 2024?
The proposed profit distribution includes dividends, an increase in reserves, and allocation to retained earnings totaling EUR 3.25 million.
How can shareholders get involved?
Shareholders can participate in the AGM discussions and vote on the proposed agenda items to influence the company's future direction.
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