OREANDA-NEWS. April 1, 2010. AS Tallinna Vesi shareholder Tallinn City Government has decided to recall council member Elmar Sepp and appoint Ardo Ojasalu as a new member of the Supervisory Council of AS Tallinna Vesi. Elmar Sepp will be recalled on April 30th and Ardo Ojasalu will be appointed on May 1st.

Ardo Ojasalu is chairman of the board of IMG Konsultant AS, Supervisory Council member of OU IMG Numeri and chairman of the Supervisory Council of AS Eesti Loto. He has previously held the post of chairman of the Supervisory Council at Eesti Raudtee, Elektriraudtee and Ringhaalingu Saatekeskus, he has also worked for Optiva Bank and Hoiupank. He has graduated from Tallinn Technical University in Computers and Computer Networks. Ardo Ojasalu does not own any shares of AS Tallinna Vesi.

According to the articles of association of AS Tallinna Vesi, United Utilities (Tallinn) B.V. as a majority shareholder in AS Tallinna Vesi (35,3%) has the right to appoint 2 supervisory council members of AS Tallinna Vesi and the City of Tallinn as the other majority shareholder (34,7%) also has the right to appoint two supervisory council members. UU also has the right to present two supervisory council member candidates and the City of Tallinn has the right to present one supervisory council member candidate to be elected by the annual general meeting of AS Tallinna Vesi shareholders, which also elects the two independent supervisory council members.

As of May 1st the members of AS Tallinna Vesi Supervisory Council will be Robert John Gallienne (UU), Leslie Anthony Bell (UU), Matti Hyyrynen (EBRD), Andrew James Prescott (UU), Rein Ratas (Tallinn City), Ardo Ojasalu (Tallinn City), Deniss Borodits (Tallinn City), Mart Magi (independent) and Valdur Laid (independent).