OREANDA-NEWS. AS Pro Kapital Grupp informs that subsidiaries of the group AS Pro Kapital Eesti and AS Taismaja (former business name AS Kristiine Kaubanduskeskus) have on 30.01.2014 concluded a merger contract, in according to which AS Pro Kapital Eesti shall merge with itself AS Taismaja. The balance sheet date of the merge is 01.01.2014 and the merger shall be deemed to be effective as of entry in the commercial register of the the acquiring company. The application to enter the merge in the commercial register shall be submitted in the near future.

The purpose of the merge is to simplify the group structure.

The transaction is not considered to be a transaction with connected persons within the meaning of the stock-exchange requirements and members of the Issuer's supervisory board and management board are otherwise personally not interested in the transaction. As all the shares of AS Taismaja are owned by AS Pro Kapital Eesti the merge does not have a significant effect on the economic activity of the issuer.

AS Taismaja is a company established on 27.05.1996, it belongs 100% to AS Pro Kapital Eesti. AS Taismaja was the developer and operator of Kristine shopping center located in Tallinn. The economic activity of AS Taismaja after selling the Kristiine shopping center has been financing activities of group companies.

AS Pro Kapital Eesti is 100% subsidiary of AS Pro Kapital Grupp. AS Pro Kapital Eesti is the holding company of Pro Kapital subsidiaries located in Estonia.