Unaudited financial report for the second quarter and 6 months of
2022 and notice of calling the extraordinary general meeting of
shareholders of AS Trigon Property Development
Unaudited financial report for the second quarter and 6
months of 2022
The main business activity of Trigon Property
Development AS is real estate development. As at 30.06.2022, AS
Trigon Property Development owned one development project with an
area of 12.8 hectares in the City of Pärnu, Estonia. A commercial,
industrial and logistics park is planned on this area. The
Company’s objective is to find companies willing to bring their
business activities (industry, logistics) to the development
project area of AS Trigon Property Development in Pärnu, which
would add value to the land plots owned by the Company. As the main
purpose of the company is to sell existing land plots, investment
property was recognized as inventories.
In the first quarter of 2021, a 3.43-hectare
property was sold for 824,040 euros (excluding VAT).
In the first quarter of 2022, a 0.53-hectare
property was sold for 213,200 euros (excluding VAT).
In the second quarter of 2022, a 1.0-hectare
property was sold for 401,280 euros (excluding VAT).
Condensed statement of financial position as of
30 June 2022 delivered by the present announcement completely
reflects the assets, liabilities and equity capital of AS Trigon
Property Development.
According to the condensed statement of
comprehensive income the net profit for first 6 months of 2022 of
AS Trigon Property Development is 179,942 euros and the earnings
per share is 0.04 EUR.
As of 30 June 2022 the assets of AS Trigon
Property Development were 2,190,431 euros. The equity of the
company was 1,958,144 euros, corresponding to 89.04 % of the total
balance sheet.
Condensed statement of financial position
EUR |
30.06.2022 |
31.12.2021 |
Cash and cash equivalents |
234,947 |
938,858 |
Trade and other receivables |
477,306 |
166,825 |
Inventories |
1,478,177 |
1,452,989 |
Total current assets |
2,190,431 |
2,558,672 |
TOTAL ASSETS |
2,190,431 |
2,558,672 |
Trade and other payables |
232,287 |
195,593 |
Total current liabilities |
232,287 |
195,593 |
Total liabilities |
232,287 |
195,593 |
Share capital at book value |
449,906 |
449,906 |
Share premium |
226,056 |
226,056 |
Statutory reserve capital |
287,542 |
287,542 |
Retained earnings |
994,639 |
1,399,575 |
Total equity |
1,958,144 |
2,363,079 |
TOTAL LIABILITIES AND EQUITY |
2,190,431 |
2,558,672 |
Condensed statement of comprehensive income
EUR |
6 M 2022 |
6 M 2021 |
Revenue |
614,480 |
205,000 |
Costs of goods sold |
-259,267 |
-74,314 |
Gross profit |
355,213 |
130,686 |
Administrative and general expenses |
-40,735 |
-39,707 |
Changes in fair value of investment property |
0 |
88,040 |
Other operating income |
0 |
100 |
Operating profit |
314,478 |
179,119 |
Financial income |
45 |
44 |
PROFIT BEFORE INCOME TAX |
314,522 |
179,163 |
Income tax expense |
-134,580 |
0 |
TOTAL COMPREHENSIVE PROFIT |
179,942 |
179,163 |
Notice of calling
the extraordinary
general
meeting of
shareholders of AS Trigon
Property Development
AS Trigon Property Development (registry code
10106774, address Pärnu mnt 18, Tallinn 10141, hereinafter the
„Company“) calls the extraordinary general meeting
of Company’s shareholders, which shall be held at 14:00 on 29
September 2022 (here and hereafter Estonian time, GMT+3) at the
Company’s office, at Pärnu mnt 18, Tallinn, 10141, IV floor.
Registration for the meeting starts at 13:00 on the date of the
meeting.
Agenda of the meeting and the Management Board proposals
for the draft resolutions to be adopted, which have been approved
by the Supervisory Board:
- Proposal
of dividend payment
To pay dividends to the shareholders in the
amount of 134 972 Euros i.e.
0.03 Euros per share.
The list of shareholders entitled to receive dividends will be
established as at 14 October 2022 as at the end of the business day
of Nasdaq CSD’s Estonian settlement system. Consequently, the day
of change of the rights related to the shares (ex-dividend date) is
set to 13 October 2022. From this day onwards, persons acquiring
the shares will not have the right to receive dividends. Dividends
shall be disbursed to the shareholders on 20 October 2022.
Organisational matters
Participation at the meeting
The list of shareholders entitled to participate
in the general meeting will be determined as of 7 days prior to the
general meeting, i.e. at the end of the working day of the Nasdaq
CSD Estonian settlement system on 22 September 2022. Registration
of participants will start an hour before the beginning of the
meeting, i.e. at 13:00. We ask the shareholders and their
representatives to arrive in good time, taking into account the
time required to register the participants.
For participating in the general meeting, we kindly ask you to
present:
- Individual
shareholders should submit an identity document, their
representatives should also hold a valid written
authorisation;
- legal
representatives of corporate shareholders should submit their
identity document; the authorised representative should also hold a
valid written authorisation document. In case the corporate
shareholder is not registered in the Estonian Commercial Register,
we ask to provide a valid extract from the relevant register where
the legal person is registered and from which the representative’s
right to represent the shareholder arises. The extract must be in
English or translated into Estonian or English by a sworn
translator or an official equivalent to sworn translator. The
documents of a foreign shareholder must be legalised or
authenticated by apostille, unless otherwise provided by an
international agreement. The Company may also deem the
shareholder’s voting right to be proven, if all the required
information on the legal person and the representative concerned
are given in a notarised power of attorney, issued to the
representative in a foreign country, and the power of attorney is
recognised in Estonia.
The shareholder may notify the Company of the
appointment of a representative and the revocation of the proxy by
sending the documents to Company’s e-mail
address info@trigonproperty.com or take the above
documents to the Company’s office at Pärnu mnt 18, Tallinn, 10141,
IV floor, weekdays between 9:00 am – 5:00 pm by no later than 28
September 2022 at 17:00 (Estonian time).
In order to authorise a representative, the
shareholder may use the template for power of attorney, which is
published on the Company’s homepage
http://www.trigonproperty.com/ and attached to the notice of
adoption of resolutions on Nasdaq Baltic stock exchange homepage
(www.nasdaqbaltic.com). Templates for revocation of the proxy are
also available at the same place.
Shareholders, whose shares represent at least
1/20 of the share capital of the Company, may demand the inclusion
of additional items on the agenda of the extraordinary general
meeting, if the corresponding request is filed in writing at least
15 days prior to the general meeting, i.e. at the latest by 23:59
on 14 September 2022, at the e-mail address info@trigonproperty.com
or to the Company's office at Pärnu mnt 18, Tallinn, 10141, IV
floor. A draft decision or rationale must be submitted at the same
time as the proposal to supplement the agenda.
Shareholders, whose shares represent at least
1/20 of the share capital of the Company, may submit to the Company
in writing a draft resolution on each agenda item, by posting the
draft to the e-mail address info@trigonproperty.com or to the
Company's office at Pärnu mnt 18, Tallinn, 10141, IV floor. The
draft must be submitted in electronic form or by post so that it
would be delivered to and received by the Company no later than 3
days before the general meeting, i.e. by 23:59 on 26 September 2022
at the latest.
At the general meeting, shareholders are
entitled to receive information on the activities of the company
from the Management Board. Management Board may refuse to provide
information if there are reasonable grounds for assuming that it
may cause significant damage to the interests of the company. In
case the board refuses to provide information, the shareholder may
require the general meeting to decide on the lawfulness of the
request or to submit within two weeks an application to the court
in petition proceedings, to oblige the Management Board to disclose
information.
Documents related to the resolutions
Documents, concerning the general meeting, draft
decisions of the general meeting, as well as other information
subject to disclosure, are available for examination as attached to
the stock exchange announcement about the notice of adoption of
resolutions published on Nasdaq Baltic stock exchange
homepage nasdaqbaltic.com, on the Company´s website
http://www.trigonproperty.com/, as well as on prior notice
beginning from the notification of the general meeting until the
day of the general meeting at Company’s office at Pärnu mnt 18,
Tallinn, 10141, IV floor on working days from 9:00 am untill 5:00
pm. Please contact us in advance at info@trigonproperty.com to
request access to the documents.
Information on shares and total number of votes, linked to the
shares
As of 31 August 2022, the share capital of AS
Trigon Property Development is divided into 4,499,061 shares with
no nominal value. Each share grants its holder one vote.
Rando Tomingas
Member of the Management Board
Telephone: +372 667 9200
E-mail: info@trigonproperty.com
- 2022 II Q interim ENG
- Draft resolutions of AS Trigon Property Development
- Draft Power of Attorney
- Draft notice for withdrawal of the power of attorney
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