Changes within the Executive Board and the Supervisory Board of

Changes in the management and supervisory bodies of the subsidiaries of AS Pro Kapital Grupp

AS Pro Kapital Grupp (Pro Kapital) announces that at the end of April 2022 the mandates of Paolo Michelozzi, Member of the Management Board and Supervisory Board of the Group’s subsidiaries, and of Olga Rudzika, Member of the Management Board of Pro Kapital Latvia, will end. Andrus Laurits, who previously worked in the group for a long time, will take over as managing director of AS Pro Kapital Eesti and member of the board of directors of the subsidiaries. Mr. Laurits will also be responsible for the trans-Baltic executive management and will serve on the boards of the Estonian and German subsidiaries. Mārtiņš Kusiņš, technical project manager of the company, will join the board of directors of Pro Kapital Latvia group companies.

“The Pro Kapital team sincerely thanks Paolo Michelozzi and Olga Rudzika for their contribution to the company for more than 20 years. As one of the oldest real estate developers in the Baltic countries, we can be proud to have remained strong and stable throughout the region during these years. The company is very well maintained and managed,” said Edoardo Preatoni, CEO of AS Pro Kapital Grupp. “At the same time, I am extremely happy that Andrus Laurits has joined Pro Kapital. His diverse international experience brings great value to the company,” added Preatoni.

Pro Kapital aims to increase people’s well-being, enrich urban space and ensure sustainable activity in a rapidly changing environment by developing large integrated residential spaces. According to the Group CEO, the leadership changes will bring new energy, global experience and vision to the company’s operations. “I believe that as a result of these changes, we will ensure a strong and capable team that will be able to create exceptional homes for our clients that will last for decades,” Preatoni explained.

After the implementation of the changes, the management boards of the subsidiaries belonging to the AS Pro Kapital Grupp group will proceed as follows:

AS Pro Kapital Eesti: Edoardo Axel Preatoni and Andrus Laurits;
AS Tondi Kvartal; Edoardo Axel Preatoni and Andrus Laurits;
OÜ Marsi Elected: Edoardo Axel Preatoni and Andrus Laurits;
OÜ Dunte Arendus: Edoardo Axel Preatoni and Andrus Laurits;
OÜ Kalaranna Kvartal: Edoardo Axel Preatoni and Andrus Laurits;
PK Germany Holding OÜ: Edoardo Axel Preatoni and Andrus Laurits;
OR Ilmarise Kvartal: Andrus Laurits;
OÜ Pro Halduse: Kati Rõuk;

Pro Kapital Latvia JSC: Edoardo Axel Preatoni and Mārtiņš Kusiņš; Kliversala SIA: Edoardo Axel Preatoni and Mārtiņš Kusiņš;
Tallina Nekustamie Ipašumi SIA: Edoardo Axel Preatoni and Mārtiņš Kusiņš;
Nekustamo ipašumu sabiedriba Zvaigznes SIA centers: Edoardo Axel Preatoni and Mārtiņš Kusiņš;

Pro Kapital Vilnius Real Estate UAB: Edoardo Axel Preatoni and Neringa Rasimaviciene;
PK Invest UAB: Edoardo Axel Preatoni and Neringa Rasimaviciene;
In Vitam UAB: no advice;

Pro Kapital Germany GmbH: Edoardo Axel Preatoni;
PK Hotel Management Services GmbH: Edoardo Axel Preatoni and Andrus Laurits.

There will also be changes in the supervisory board of AS Tondi Kvartal, where Paolo Michelozzi will be replaced by Petri Olkinuora (member of the supervisory board of AS Pro Kapital Grupp) and in the supervisory board of Pro Kapital Latvija JSC , where Edoardo Axel Preatoni will be replaced by Andrus Laurits.

Saving changes is in progress.

A summary of the professional experience of Mr. Andrus Laurits and Mārtiņš Kusiņš is attached to this advertisement. Mr. Laurits and Mr. Kusinš do not hold any Pro Kapital shares.

Angelique Annus

Member of the board

+372 614 4920

[email protected]

  • Summary of the professional experience of Mr. Laurits and Mr. Kusinš

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