Court ruling concerning the civil claim of Vesta Terminal


22.06.2018

In 20 June 2018 Harju County Court dismissed the claim filed in the civil case No 2-18-2058 against AS Tallinna Sadam (hereinafter: “Tallinna Sadam”) based on the application of Vesta Terminal Tallinn OÜ (hereinafter: “Vesta Terminal”). On 8 February 2018 Vesta Terminal submitted a claim against Tallinna Sadam applying for the change of the terms of the cooperation agreement signed between the parties. The basis for the claim of Vesta Terminal and the description of the related potential risks to Tallinna Sadam are included in the offering, listing and admission to trading prospectus, which is publicly available on the website of Tallinna Sadam https://investor.ts.ee/ .

Tallinna Sadam is one of the largest cargo- and passenger port complexes in the Baltic Sea region, which in 2017 serviced 10.6 million passengers and 19.2 million tons of cargo. In addition to passenger and freight services, Tallinna Sadam group also operates in shipping business via its subsidiaries – OÜ TS Laevad provides ferry services between the Estonian mainland and the largest islands, and OÜ TS Shipping charters its multifunctional vessel m/vBotnica for icebreaking and construction services in Estonia and off-shore projects abroad. Tallinna Sadam group is also a shareholder of a joint venture AS Green Marine, which provides waste management services. Tallinna Sadam group’s sales in 2017 totaled EUR 121.3 million, adjusted EBITDA EUR 66.5 million and net profit EUR 26.4 million.

 

Additional information:

 

Marju Zirel

AS Tallinna Sadam

Head of Investor Relations

m.zirel@ts.ee