Tallinn, Estonia, 2010-12-28 07:30 CET (GLOBE NEWSWIRE) --
On 22.12.2010 AS Merko Ehitus established a fully owned subsidiary in Ukraine called LLC Merko Ukraine (registration code 37458687). The establishing process was a mere formality the aim of which was to create a legal platform in order to start doing business on the local market. With this move, Merko Ehitus wishes to confirm its strategic interest in entering the Ukrainian market. The company will notify investors about the concluding of any specific contracts via the stock exchange system.
The company established will mainly specialize in the managing of construction projects in Ukraine. The share capital of the new subsidiary is 5,217.65 Ukrainian grivnas (approximately 7,800 Estonian kroons / 500 Euros).
According to the rules and regulations set to issuers by the NASDAQ OMX Tallinn Stock Exchange the transaction is not regarded as a transaction with a related party. The members of the Supervisory Board and Management Board of AS Merko Ehitus have no other personal interests in the transaction.
1 EUR = 15,6466 EEK
1 UAH = 1,4944 EEK
Alar Lagus
Member of Management Board
+372 6 805 109
alar.lagus@merko.ee