Changes in the Supervisory Boards and Audit Committee of Tallinna Kaubamaja Grupp AS and its subsidiaries

Member of the Supervisory Board and the Audit Committee of Tallinna Kaubamaja Grupp AS, Andres Järving, has applied for resignation from his positions in Tallinna Kaubamaja Group as of 1^st of January 2023. In connection to the above, following changes shall be made in the composition of supervisory boards and audit committee:

• Changes in the composition of Supervisory Board of Tallinna Kaubamaja Grupp AS shall be decided by the next Annual General Meeting (1^st quarter of 2023).
• In accordance with the resolution of the Supervisory Board of Tallinna Kaubamaja Grupp AS, the Audit Committee shall continue with four members – Kaia Salumets (chairman), Jüri Käo, Gunnar Kraft, Kristo Anton.  
• Andres Järving shall be recalled from the Supervisory Boards of subsidiaries of Tallinna Kaubamaja Grupp AS (Selver AS, Kulinaaria OÜ, Kaubamaja AS, TKM Finants AS, OÜ TKM Beauty, TKM Auto OÜ, KIA Auto AS, AS Viking Motors, SIA Forum Auto, SIA Verte Auto, UAB KIA Auto, Tallinna Kaubamaja Kinnisvara AS, OÜ Tartu Kaubamaja Kinnisvara, SIA TKM Latvija, UAB TKM Lietuva, Viking Security AS) and Kristo Anton shall replace him as of 1^st of January 2023.
• Andres Järving shall be recalled from the Supervisory Board of affiliate Rävala Parkla AS (50% shareholding) and Peeter Kütt shall replace him as of 1^st of January 2023.

Kristo Anton has been working as the Investment Manager of NG Investeeringud OÜ since 2006, where his main tasks are topics related to investments, expansions and financing of subsidiaries of Tallinna Kaubamaja Group. Kristo Anton is also a member of the sustainable development working group of Tallinna Kaubamaja Group and a member of the Audit Committee. Outside the Group, Kristo Anton belongs to the Management Board of Mansum OÜ. He holds a master’s degree (MBA) from Concordia International University Estonia since 2001 and a master’s degree (MScEng) from Tallinn University of Technology since 2022. Kristo Anton does not own shares of Tallinna Kaubamaja Grupp AS.

Peeter Kütt is a member of the management boards of all subsidiaries of the Group’s real estate segment (currently Tallinna Kaubamaja Kinnisvara AS, OÜ Tartu Kaubamaja Kinnisvara, SIA TKM Latvija and UAB TKM Lietuva), where his main tasks are managing the Group’s real estate projects and activities and advising the Group’s companies in the field of real estate, as well he is a member of the Group’s sustainable development working group. Also, Peeter Kütt has been working as the Real Estate Investment Manager of NG Investeeringud OÜ since 1998 and he is a member of the Management Board of NG Investeeringud OÜ’s subsidiaries Roseni Majad OÜ and OÜ Roseni Kinnisvara and a member of Supervisory Board of Kuulsaal OÜ. Peeter Kütt does not own shares of Tallinna Kaubamaja Grupp AS.

The main activities of the companies belonging to the Tallinna Kaubamaja Group are retail and wholesale. The Group’s companies account for nearly a tenth of all retail trade in Estonia and employ more than 4,700 people.

Raul Puusepp
Chairman of the Board
Phone: +372 731 5000