Published: 2019-04-01 15:56:01 CEST
Other information disclosed according to the rules of the Exchange

Olainfarm: The Decision Of Individual Shareholders On Changes In The JSC Olainfarm Council Is Illegal

The Board of JSC Olainfarm confirms, that previously cancelled extraordinary meeting of shareholders planned for April 1, did not take place today. JSC Olainfarm's Management Board assesses the actions taken by individual shareholders today behind the gates of the Company, as illegal and invalid.

On March 27, 2019, the Management Board of JSC Olainfarm has decided to cancel the extraordinary shareholders' meeting scheduled for April 1. The decision was based on the fact that, on January 4, 2019, the persons who requested the convening of the extraordinary shareholders meeting of JSC Olainfarm, were not included in the shareholders' lists of JSC Olainfarm.

The procedure for convening of shareholders' meeting is determined by the Commercial Law and the Law on the Financial Instruments Market. According to the effective regulatory enactments, the shareholders' meeting is convened by the Board of the company, but in certain cases by the Council and / or the Enterprise register. The law also clearly defines the way in which the convocation of the shareholders' meeting is announced.

There are no regulations that provide the right of shareholders to announce the convocation of the shareholders' meeting independently and via media announcement, in violation of the requirements of the law, as well as to hold such shareholders meeting independently.

Therefore, JSC Olainfarm repeatedly draws the attention of shareholders to the fact that the extraordinary shareholders' meeting of JSC Olainfarm, canceled on March 27, has not taken place. Gatherings of certain shareholders are not to be regarded as shareholders' meetings within the meaning of the Commercial Law and the Law on the Financial Instruments Market of Latvia.

Information prepared by:
Inga Krūkle
Member of the Board JSC Olainfarm
Ph.: +371 28698449