Arco Vara AS notifies the stock exchange about a change in substantial holding as required by § 186 of the Securities Market Act.
On February 12, 2021, AS Lõhmus Holdings transferred 850,000 shares of Arco Vara AS held by them to OÜ Alarmo Kapital. The transferred shares stood for 9.45% of total Arco Vara AS shares.
As a result of the transaction, OÜ Alarmo Kapital now holds 51.83% of the voting shares of Arco Vara AS. In addition to the 51.83%, 390,000 shares are subscribed but not yet issued to OÜ Alarmo Kapital by Arco Vara AS, which after the issue would make OÜ Alarmo Kapital a 53.83% shareholder.
In coordination with the Estonian Financial Supervision and Resolution Authority and accordance with the Securities Market Act, OÜ Alarmo Kapital announced its intention to make a mandatory takeover bid to the shareholders of AS Arco Vara.