News

MERGER OF TOPSEC TURVATEENUSED AND VIKING SECURITY

TALLINN, 11.12.2014, www.nasdaqomxbaltic.com - In order to increase efficiency, Tallinna Kaubamaja AS plans to merge the activities of subsidiaries in the group that are involved in security business.

Topsec Turvateenused OÜ, company to be acquired, will be merged into Viking Security AS, acquiring company. As a result of the merger, Viking Security AS will remain, the sole shareholder of which will become Tallinna Kaubamaja AS. The activities of the company will be continued under the business name of the acquiring company, Viking Security AS. Tannar Tiitsar and Einar Pilvet will continue as Board Members of Viking Security AS. Jüri Käo, Andres Järving, Enn Kunila and Raul Puusepp will remain the members of the council. The composition of staff will not change due to the merger.

The merger agreement related to the above-mentioned merger was signed today. The merger will most likely be registered in the Commercial Registry in the spring of 2015 due to the fact that the 2014 Annual Report of Topsec Turvateenused OÜ will be used as the final balance sheet in the merger.

The merged company will continue providing high-quality security services. The resulting synergy will allow us to provide our clients with increasingly better and perfected solutions, and continue the successful growth of the company thus far. The goal is to increase the market share in all current areas of activity.

Raul Puusepp
Chairman of the Board