Merger of subsidiaries

Tallinna Kaubamaja Grupp AS informed the stock exchange on the 13^th of July 2023 of acquiring 100% shares of Skarabeus Julgestusteenistus OÜ and on the 16^th of August 2023 of acquiring 100% shares of Caesari Turvateenistuse Aktsiaselts by its subsidiary, Viking Security AS. By respective acquisitions Viking Security AS strengthened its business in all areas of activity. The acquiring of the companies has given positive synergy through the fusion of strong industry know-how, the growth of operational capability and cost-effectiveness and creates an opportunity to continue successful growth and develop new services.

To increase efficiency, the plan is to merge the activities of aforementioned subsidiaries in the group that are involved in security business – both Skarabeus Julgestusteenistus OÜ and Caesari Turvateenistuse Aktsiaselts (companies to be acquired) will be merged into Viking Security AS (acquiring company). The merger agreement related to the above-mentioned merger was signed today. The merger will most likely be registered in the Commercial Registry during December 2023.

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. Tannar Tiitsar, the current member of the management board of Viking Security AS, will continue as a member of the management board of Viking Security AS. The supervisory board of Viking Security AS will continue with members Raul Puusepp (Chairman), Enn Kunila, Jüri Käo and Kristo Anton.

Viking Security AS's security equipment wholesale subsidiary Walde AS continues to operate as a separate company.

Raul Puusepp

Chairman of the Board

Phone: +372 731 5000