Published: 2013-04-12 15:48:13 CEST
Olainfarm
Decisions of general meeting

Draft resolutions of the Annual General Meeting of Shareholders of JSC „Olainfarm” to be held on April 29th, 2013:

Olaine, April 12, 2013, 2013-04-12 15:48 CEST (GLOBE NEWSWIRE) --
1. Report of the Board on results of operations in 2012.

Draft resolution:

To take notice of the Report of the Board on results of operations in 2012.

 2. Report of the Council on results of operations in 2012.

Draft resolution:

To take notice of the Report of the Council on results of operations in 2012.

3. Report of the Auditing Committee.

Draft resolution:

To take notice of the Report of the Auditing Committee.

 4. Approval of the Audited Annual Report for 2012.

Draft resolution:

To approve the Audited Annual Report of JSC „Olainfarm” for 2012.

 5. Approval of the Audited Consolidated Annual Report for 2012.

Draft resolution:

To approve the Audited Consolidated Annual Report of JSC „Olainfarm” for 2012.

 6. Distribution of profit of 2012.

Draft resolution:

To use part of the year 2012 profit of JSC “Olainfarm” in amount of 1 507 103,35 lats (2 144 414,87 euro) to pay dividends to shareholders of JSC „Olainfarm”, (ISIN code of the shares LV0000100501) paying 10,7 santims per one share, but part of the profit in amount of 8 500 654,65 lats (12 095 341,87 euro) to reinvest in development of JSC “Olainfarm”.

Set June 17th, 2013, as a record date for dividends and June 21st, 2013, as the date of payment of dividends.

 7. Report of the Board on budget and on planned operations in 2013.

Draft resolution:

To take notice of Report of the Board on budget and on planned operations in 2013, which include Company's unconsolidated turnover forecast for 2013 in amount of 50 million lats (71 million Euro), and JSC „Olainfarm” consolidated turnover forecast for 2013 in amount of 59 million lats (84 million Euro); Forecast of unconsolidated profit of JSC “Olainfarm” is 11 million lats (15,6 million Euro), but consolidated profit is 11,5 million lats (16,4 million Euro).

8. Election of the Certified Auditor for 2013.

Draft resolutions:

8.1. to elect SIA „Ernst & Young Baltic” (license No.17, unitary registration No. 40003593454) to be the certified auditor of JSC „Olainfarm” in 2013.

8.2. to set the total remuneration of certified auditor in accordance with the approved budget.

 9. Election of the Auditing Committee.

Draft resolutions:     

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

9.2. to set the total monthly remuneration of the members of the Auditing Committee at 2 250 lats.

 10.  Election of the Council

Draft resolutions:     

10.1.  to elect the Council of JSC “Olainfarm” consisting of the following members for the further term of five years, setting that this terms commences on April 30th, 2013:

Name, surname, personal details:

1. Olena Dudko;

2. Valentina Andrejeva;

3. Volodymir Kryvozubov;

4. Gunta Veismane;

5. Aleksandrs Raicis.

10.2.  To set the total monthly remuneration of all the Supervisory Council in the amount of _____________.

 Resolution on the remuneration of the members of the Council shall be made in accordance with offers of the shareholders.

A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company's operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „OlainFarm”
         Tel: +371 6 7013 717
         e-mail: Salvis.Lapins@OlainFarm.lv