Published: 2017-06-01 19:34:38 CEST
Olainfarm
Decisions of general meeting

Decisions adopted by the annual general meeting of shareholders

Olaine, 2017-06-01 19:34 CEST (GLOBE NEWSWIRE) -- The following decisions have been adopted by the annual general meeting of shareholders:

 

1. Report of the Board on results of operations in 2016.

 

To take notice of the Report of the Board on results of operations in 2016.

 

Voting: the resolution was adopted with the necessary majority of votes.

 

2. Report of the Council on results of operations in 2016.

 

To take notice of the Report of the Council on results of operations in 2016.

 

Voting: the resolution was adopted with the necessary majority of votes.

 

3. Report of the Auditing Committee on activities in 2016.

 

To take notice of the Report of the Auditing Committee on activities in 2016.

 

Voting: the resolution was adopted with the necessary majority of votes.

 

4. Approval of the JSC “Olainfarm” Audited Consolidated Annual Report of Group and Parent Company for 2016.

 

To approve the Audited Consolidated Annual Report of JSC „Olainfarm” group and of Parent Company for 2016.

 

Voting: the resolution was adopted with the necessary majority of votes.

 

5. Distribution of reserves

 

5.1. To use part of JSC “Olainfarm” reserve in amount of EUR 281 701,56 (two hundred eighty one thousand seven hundred and one euro and 56 eurocents) to pay out to JSC “Olainfarm” shareholders (ISIN code of the shares LV0000100501), paying EUR 0,02 (two eurocents) per share.

 

Voting: the resolution was adopted with the necessary majority of votes.

 

5.2. Set December 15, 2017, as the record date and December 20, 2017, as the date of payment of the reserve’s part in amount of EUR 281 701,56 (two hundred eighty one thousand seven hundred and one euro and 56 eurocents).

 

Voting: the resolution was adopted with the necessary majority of votes.

 

5.3. The remaining part of the reserve in amount of EUR 40 449.68 (forty thousand four hundred forty nine euro and 68 eurocents) to remain with JSC “Olainfarm” reserve.

 

Voting: the resolution was adopted with the necessary majority of votes.

 

6. Distribution of profit of 2016.

 

6.1. To use part of the year 2016 profit of JSC “Olainfarm” in amount of EUR 9 014 449,92 (nine million fourteen thousand four hundred forty nine euro and 92 cents) to pay dividends to shareholders of JSC „Olainfarm”, (ISIN code of the shares LV0000100501) paying in dividends EUR 0,64 per one share effectuating payment in three stages in II, III and IV quarters, but part of the profit in amount of EUR 625 550.08  (six hundred twenty five thousand five hundred fifty euro and 08 eurocents) to retain undistributed and to reinvest in development of JSC “Olainfarm”. Dividends of EUR 0.22 per share shall be paid in stage I, dividends of EUR 0.22 per share shall be paid in stage II and dividends of EUR 0.20 shall be paid in stage III.

 

Voting: the resolution was adopted with the necessary majority of votes.

 

6.2. Set the following order for calculation and payment of dividends

I stage (II quarter): set Set June 15, 2017, as the record date and June 20, 2017, as the date of payment;

II stage (III quarter): Set September 7, 2017, as the record date and September 12, 2017, as the date of payment;

III stage (IV quarter): Set December 7, 2017, as the record date and December 12, 2017, as the date of payment.

 

Voting: the resolution was adopted with the necessary majority of votes.

 

7. Report of the Board on budget and on planned operations in 2017.

 

To take notice of Report of the Board on budget and on planned operations in 2017, which include JSC “Olainfarm” unconsolidated turnover forecast for 2017 in amount of 96 million euro and JSC “Olainfarm” unconsolidated profit in amount of 12,7 million euro, consolidated turnover forecast for 2017 in amount of 127 million euro, but consolidated profit in amount of 15,5 million euro.

 

Voting: the resolution was adopted with the necessary majority of votes.

 

8. Amendment of Statutes.

 

8.1. Express article 6.2. of the Statutes as follows:

„6.2. Revision comission consists of three members of the revision commission. Members of the revision commission are elected at the shareholders meeting for 2 (two) years term.”

 

Voting: the resolution was adopted with the necessary majority of votes.

 

8.2. Approve new edition of the Statutes.

 

Voting: the resolution was adopted with the necessary majority of votes.

 

9. Election of the Certified Auditor for 2017 and setting of renumeration of the Certified Auditor.

 

9.1. To elect SIA „Ernst & Young Baltic” (license No.17, unitary registration No. 40003593454) to be the certified auditor of JSC „Olainfarm” in 2017.

 

Voting: the resolution was adopted with the necessary majority of votes.

 

9.2. To set EUR 47 600,00 (forty seven thousand six hundred euro and 00 eurocents) as the total remuneration of the Certified Auditor for 2017.

 

Voting: the resolution was adopted with the necessary majority of votes.

 

10. Elections of the Council.

 

10.1. To elect the Council of JSC “Olainfarm” consisting of the following members for the further term of five years, setting that term of the Council powers commences on June 02, 2017:

Name, last name:

1. Valentīna Andrējeva

2. Andis Krūmiņš

3. Ivars Godmanis

4. Aleksandrs Raicis

5. Gunta Veismane

 

Voting: Voting: the following number of votes has been placed for each candidate:

 

for V.Andrējeva - 1958268 votes or 19,85% from the number of present shareholders with voting rights;

for A.Krūmiņš - 1972155 votes or 19,99% from the number of present shareholders with voting rights;

for I.Godmanis – 1985074 votes or 20,12% from the number of present shareholders with voting rights;

for A.Raicis – 1973321 votes or 20,00% from the number of present shareholders with voting rights;

for G.Veismane – 1958210 votes or 19,85% from the number of present shareholders with voting rights.

 

Abstain (not casted)– 19600 votes or 0,20% from the number of present shareholders with voting rights.

 

10.2. To set the total monthly remuneration of all the Council members at the amount of EUR 13 500,00 (thirteen thousand five hundred euro and 00 eurocents).

 

Voting: the resolution was adopted with the necessary majority of votes.

 

11. Election of the Auditing Committee and setting of renumeration of the Auditing Committee.

 

11.1. Elect member of the JSC “Olainfarm” Auditing Committee:

- Deputy Head of the Council Valentina Andrējeva,

- Member of the Council Gunta Veismane,

- Viesturs Gurtlavs.

 

Voting: Voting: the following number of votes has been placed for each candidate:

 

for V.Andrējeva - 3275872 votes or 33,20% from the number of present shareholders with voting rights;

for G.Veismane - 3275599 votes or 33,20% from the number of present shareholders with voting rights;

for V.Gurtlavs – 3295557 votes or 33,40 % from the number of present shareholders with voting rights;

 

Abstain (not casted) – 19600 votes or 0,20% from the number of present shareholders with voting rights.

 

11.2. Set monthly remuneration of the member of the Auditing Committee in amount of EUR 5350,00 (five thousand three hundred fifty euro and 00 eurocents).

 

Voting: the resolution was adopted with the necessary majority of votes.

 

         Information prepared by:
         
         Salvis Lapins
         JSC Olainfarm
         Member of the Management Board
         Rupnicu iela 5, Olaine, Latvia, LV 2114
         Phone: +371 6 7013 717
         Fax: +371 6 7013 777
         E-mail: Salvis.Lapins@olainfarm.lv