Published: 2018-04-06 15:06:00 CEST

The Board approved financial statements for the year 2017 and convokes the Annual General Meeting of Shareholders’

On 6 April 2018 the Board of Vilkyškių pieninė AB (hereinafter “Vilkyškių pieninė AB” or “the Company”) decided: 

- To approve the Company’s consolidated annual report for the year 2017, prepared by the Company and assessed by the auditors, and to propose to the Company’s Annual General Meeting of Shareholders to approve Company’s consolidated annual report.

- To approve the draft of the audited separated and consolidated financial statements of the Company for the year 2017 and to propose to the Company’s Annual General Meeting of Shareholders to approve the draft of the Company’s separate and consolidated financial statements for the year 2017.

In 2017, Vilkyškių pieninė AB Group sales revenue amounted to mEUR 113.9, up by 26 percent from mEUR 90.5 in 2016. In 2017, net profit reached mEUR 6.7, a rise from mEUR 4.5 the year before, showing an increase of 49 percent.

- Taking into consideration the successful financial results of the Company in 2017, the dividend policy approved by the Company proposes for the Annual Shareholder Meeting to approve  dividends in the amount of mEur 1,672 for the year 2017 (0,14 euro per ordinary registered share). The dividend offer is formed considering that the dividend payment must be not less than 25% of the consolidated net profit of the Company previous year, but not bigger than the consolidated net profit of the Company for the year 2017.

  • To approve the allocation project of the Company’s audited net profit under IAS for the year 2017 and to propose it to the Company’s Annual General Meeting of Shareholders to approve.

Resolution: To approve the audited net profit allocation under IAS for the year 2017 as follows:

 thousand EUR
1) Non-appropriated profit (loss) at the end of the year 201616,822
2) Approved by shareholders dividends of the year 2016(1,433)
3) Transfers from other reserves136
4) Non-appropriated profit (loss) at the beginning of the current financial year after dividends payout and transfer to reserves15,525
5) Net profit (loss) of the reporting period6,202
6) Net profit to be appropriated at the end of the current financial year21,727
7) Transfers from reserves2,508
8) Total profit (loss) to be appropriated:24,235
  • portion of the profit allocated to the legal reserve
-
  • portion of the profit allocated to the reserve for the purchase of own shares
-
  • portion of the profit allocated for payment of the dividends
(1,672)
  • portion of the profit allocated to the other reserves
-
9) Non-appropriated profit (loss) at the end of the current financial year carried forward to next financial year22,563

-To approve the decision to revoke an unused reserve for the purchase of own shares and to propose to the Company’s Annual General Meeting of Shareholders to approve.

-The Company’s Board offers to elect six Board members for the 4 years period and to propose to the Company’s Annual General Meeting of Shareholders to approve. Candidates to the Board: Gintaras Bertašius, Sigitas Trijonis, Rimantas Jancevičius, Vilija Milaševičiutė, Linas Strėlis and Andrej Cyba.

- To convoke the Annual General Meeting of Shareholders at the office of Vilkyskiu pienine AB (P.Lukošaičio g. 14, Vilkyškiai, LT-99254 Pagėgių sav., Lithuania), at 13.00 on 27 April 2018, and to propose to the Annual General Meeting of Shareholders’ the following draft agenda:

1) Approval of the Company's consolidated annual report for the year 2017.
2) The Company's auditor's report of separated and consolidated financial statements of the Company for the year 2017
3) Approval of Company's separate and consolidated financial statements for the year 2017.
4) Net Profit appropriation of the year 2017.
5) Due to the unused reserve for the purchase of own shares.
6) Election of the Company’s Board members for the 4 years period.

Vilija Milaseviciutė
Economics and Finance Director
phone +370 441 55102

Attachments


Consolidated and separate financial statements 2017.pdf
Confirmation of responsible persons EN.pdf
1_Draft resolutions of Ordinary General Meeting of the Shareholders, to be held on 27 April 2018.doc