OREANDA-NEWS. During the first half of 2013 Pro Kapital Grupp proceeded with development of its real estate projects - the technical projecting was continued for 3 new projects: Peterburg road shopping centre in Tallinn and first part of new stage in Tondi Quarter in Tallinn and Tallinnas Residential Complex in Riga alongside with the preparations for establishing the detail plannings for Kalaranna and Kliversala residental areas in Tallinn and in Riga.

During the reporting period the Company carried through the issuing of its 921 153 new shares with the price of 1,8 euro per share, which increased the Company's share capital up to 10 821 315 EUR. The new share capital invested shall be used for finalizing the preparation works needed for the launch of the new development projects and for strengthening its financial position.

Total revenue for the first six months of 2013 was 6,5 million EUR, a decrease of 34% compared to the reference period. During the second quarter, total revenue was 3,5 mln EUR and has increased by 25% compared to the second quarter of 2012. Net operating loss during the first half of the year decreased by 1 260 th. EUR (56%), totalling to loss of 1,0 mln EUR. Net operating result for the second quarter of 2013 was 32 th. EUR, which is 102% increase as compared to the second quarter of 2012.

General meeting of shareholders, held on June 19, 2013, has decided to appoint Ernesto Achille Preatoni member of the Council starting from July 5, 2013. Term in office of Emanuele Bozzone was prolonged and Pertti Huuskonen and Petri Olkinuora continue their service as PKG Council members. Since July 5, 2013 council members Renato Bullani and Giuseppe Prevosti term in office expired.

After the end of the reporting period the Company issued 74 unsecured non-convertible bonds with face value of 10 000 EUR, 5 year maturity and 5% coupon rate. Therefore, the amount of bonds issued totaled to 740 000 EUR. The Company prolonged the maturity of its PKG1 convertable bonds in the total amount of 3 261 460 EUR by two years, with new redemption date being August 13, 2015.