Published: 2019-04-04 17:15:27 CEST
Olainfarm
Changes board/management/auditors

Council of JSC Olainfarm: JSC Olainfarm Board Members have made gross violations of authority; changes made in the Board

Today, on April 4th, JSC Olainfarm Council held a meeting, in which, after hearing members of the Board and finding out gross violations of authority and failure to perform their duties, it made a decision to make changes in the Board, by recalling the current Chairman of the Board of JSC Olainfarm Oļegs Grigorjevs and Members of the Board Mihails Raizbergs and Vladimirs Krušinskis.

To ensure the continuity of the company's operations, the Council of JSC Olainfarm decided on urgent changes in the Board. Lauris Macijevskis has been appointed as the Chairman of the Board; Mārtiņš Pūriņš, Signe Baldere - Sildedze and Milana Beļeviča have been appointed as the Members of the Board. Veranika Dubickaya, Mārtiņš Tambaks, and Raimonds Terentjevs will continue their duties in the Board. In the near future, the Board of JSC Olainfarm will be strengthened with business management and pharmaceutical professionals.

JSC Olainfarm Council was forced to take such a decision on changes in the Board, by acquainting with the situation in the company and discovering serious misconduct by the Board. Misleading news about the composition of the shareholders of JSC Olainfarm was recognized, as well as unlawful announcements about the cancellation of the previously announced extraordinary shareholders meeting. It turned out that on April 1st the Board of JSC Olainfarm had signed and submitted applications to the Register of Enterprises of the Republic of Latvia about non-existent and fictitious extraordinary shareholders meeting.

JSC Olainfarm Council has required the Board to turn to law enforcement authorities to verify if the actions of the mentioned Board Members are unlawful.

About JSC Olainfarm newly appointed Board

The newly appointed Board members have previous experience in the leading management positions.

Lauris Macijevskis is a finance expert who has worked for 16 years in the Latvian banking sector and leading local banks. For the previous three years, Lauris Macijevskis has been performing as the vice president and member of the Board of Directors of JSC DNB banka. Mārtiņš Pūriņš is an IT professional who has previously worked for JSC Sadales tīkls and University of Latvia. Signe Baldere - Sildedze and Milana Beleviča have previously held positions in the Board of JSC Olainfarm. Signe Baldere - Sildedze has acquired education in Switzerland in tourism and hospitality and has been managing a tourism and hospitality related company in Switzerland. Milana Beļeviča has more than 20 years of lawyer experience combining academic and practical knowledge in financial and tax law. She has obtained Degree in law from the University of Latvia; Master's degree in social sciences from the Faculty of Business, Management and Economics at the University of Latvia, as well as a doctoral program in the Law Faculty of Riga Stradins University.

Additional information:

Dana Hasana
Dana.hasana@olainfarm.com
Ph.+371  26355895

Laima Auza
laima.auza@vilands.lv
Ph. +371  26148001