Skano Group
Decisions of the Supervisory Board of Skano Group AS

DGAP-News: Skano Group /

05.06.2014 / 15:40

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Pärnu, 2014-06-05 15:40 CEST (GLOBE NEWSWIRE) -- 

Skano Grop AS informs that the Supervisory Board which was convened on June 5,
2014 has decided the following: 

1. To appoint Heiti Riisberg as the new Chairman of the Supervisory Board.

2. To recall Mr. Girts Eglajs from the Audit Committee and appoint Kertu
Virkebau as a new member of the Audit Committee. Kertu Virkebau is working as
chief accountant for Trigon Capital group. Heiti Riisberg will continue as the
Chairman of the Audit Committee. 

3. To appoint Gregory Devine Grace as a new member of the Management Board of
Skano Group AS (including all relevant subsidiaries) responsible for sales for
a period of 3 years, effective as of June 6, 2014. The Management Board of
Skano Group AS consists of 3 memebrs from now on, including also CEO Martin
Kalle and Gert Kuus. 

Gregory Devine Grace joined Skano Group AS at the beginnig of 2014 as Head of
Sales. His previous work includes running a Sales and Marketing Consulting
firm, Baltic Business Development Manager for Coca-Cola HBC Baltics AS,
Managing Director of NSB Kaubanduse AS. Gregory Devine Grace received his
Bachelor of Arts degree in Foreign Affairs from the University of Virginia in
1994. Gregory Devine Grace does not hold shares of Skano Group AS. 

4. To pledge the shares of its subsidiaries (Skano Fibreboard Osaühing and
Skano Furniture Factory Osaühing). The shares are pledged to secure the
fulfilment of the obligations of Skano Group AS deriving from the loan
agreement previously concluded with Swedbank AS. 

The pledge of the shares of the subsidiaries of Skano Group AS for Swedbank AS
is the result of restructuring of previously taken loan. Assets of the
subsidiaries have been pledged earlier (with commercial pledge and mortgage)
for Swedbank AS. The transaction is important for the future investments and
business activities of Skano Group AS. 


         Martin Kalle
         CEO
         +372 447 8331
         martin.kalle@skano.com
News Source: NASDAQ OMX


End of Corporate News

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Language:    English       
Company:     Skano Group   
 
 
             Estonia       
ISIN:        EE3100092503  
 
 
End of News    DGAP News-Service  
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