News

ACQUISITION OF SHARES OF VIKING SECURITY AS

TALLINN, 02.09.2014, www.nasdaqomxbaltic.com - Today, 2 September 2014, after having fulfilled the preliminary conditions for completing the transaction, Topsec Turvateenused OÜ, a subsidiary of Tallinna Kaubamaja AS, completed the acquisition of a 100% share in Viking Security AS.

In 15 August 2014, Topsec Turvateenused OÜ, a subsidiary of Tallinna Kaubamaja AS, signed a contract under which it will acquire 100% of the shares of Viking Security AS in September.

The contract foresees completion of the transaction after obtaining additional approvals and carrying out necessary operations. 

Acquisition of the shareholding in Viking Security AS enables Tallinna Kaubamaja Group to further strengthen its security services, one of the most fast-growing business areas of the Group in recent years. As a result of the transaction, the service portfolio of Topsec Turvateenused OÜ will expand from manned guarding and video security to include services related to the design, installation and maintenance of electronic alarm, security and surveillance systems and the possibility of participating in certified security tenders.

The 2013 turnover of Viking Security AS was 0.96 million euros. The share capital of the company is 134,220.85 euros divided into 21,001 shares with no nominal value. The parties will not disclose the value of the transaction.

The transaction is not deemed an acquisition of a qualifying holding or a transaction with a related party as defined in the Requirements for Issuers section of the NASDAQ OMX Tallinn Rules and Regulations and will not have a significant impact on the activity of Tallinna Kaubamaja AS. The members of the supervisory board and the management board of Tallinna Kaubamaja AS are not personally interested in transaction in any other way.

Raul Puusepp
Chairman of the Board