Published: 2011-04-29 15:23:41 CEST
Olainfarm
Decisions of general meeting

Decisions of annual general meeting

Olainfarm             Decisions of annual general meeting             29.04.2011

 

 

Name of securities: Public shares of JSC „Olainfarm”

      ISIN code: LV000100501

      Paid - in capital: 14 085 078 LVL

      Date of the Annual General Meeting: April 29, 2011 at 11:00

      Venue: Olaine, Rupnicu iela 5.

      Following documents have been approved at the Annual General Meeting:

 

1.         Report of the Board on results of operations in 2010.

 

To take notice of the Management Report on results of operations in 2010.

 

Voting: the resolution was adopted unanimously.

 

2.         Report of the Council on results of operations in 2010

 

To take notice of the Council Report on results of operations in 2010.

 

Voting: the resolution was adopted unanimously.

 

3. Report of the Auditing Committee.

 

To take notice of the Report of the Auditing Committee.

 

Voting: the resolution was adopted unanimously.

 

4.         Approval of the Audited Annual Report for 2010.

 

To approve the Audited Annual Report for 2010.

 

Voting: the resolution was adopted unanimously

 

5.         Approval of the Audited Consolidated Annual Report for 2010.

 

To approve the Audited Consolidated Annual Report for 2010.

 

Voting: the resolution was adopted unanimously.

 

6.         Division of profit of 2010.

 

To use the part of profit made by AS “Olainfarm” in 2010 in value of 352 126,95 lats (501 031,51 Euro) to pay dividends to shareholders of AS “Olainfarm”, (ISIN code LV0000100501) paying a dividend of 2.5 santims per share, and to reinvest the remaining part of the profit in value of 3 191 542,05 lats (4 541 155,22 Euro) into development of the Company.

To set June 15, 2011 to be the record date for dividends and June 20, 2011 to be the payment date.

 

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

 

7.         Report of the Board on budget for 2011 and on planned operations in 2011.

 

 

To take notice of Report of the Board on budget for 2011 and on planned

operations in 2011, which include Company's sales forecast of 29.4 million lats

(41.8 million Euros) and profit forecast of 5.1 million lats (7.3 million

Euros).

 

 

Voting: the resolution was adopted unanimously.

 

8. Election of the Certified Auditor for 2011.

 

8.1. to elect SIA „Ernst & Young Baltic” (license No. 17, unified registration

number: 40003593454) to be the certified auditor of JSC „Olainfarm” in 2011.

 

Voting: the resolution was adopted unanimously.

 

8.2. to set the total remuneration of certified auditor at 29 000 lats (41 263

Euros), exclusive of VAT.

 

9.         Election of the Auditing Committee.

 

9.1. to elect Zanna Karaseva to be the sole member of the Auditing Committee.

 

Voting: the resolution was adopted unanimously.

 

9.2. to set the total monthly remuneration of the members of the Auditing

Committee at 500 lats (711 Euros). 

         Olaine, April 29, 2011
         Information prepared by:
         Salvis Lapins
         JSC Olainfarm
         Member of the Board
         Rupnicu iela 5, Olaine
         Latvia, LV 2114
         Tel: +371 6 7013 717
         Fax: +371 6 7013 777
         e-mail: slapinsh@olainfarm.lv