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Decisions Adopted by the Annual General Meeting of Shareholders of JSC Olainfarm held on June 7, 2016

on June 7, 2016

The following decisions have been adopted by the annual general meeting of shareholders:

  1. Report of the Board on results of operations in 2015.

To take notice of the Report of the Board on results of operations in 2015.
Voting: the resolution was adopted with the necessary majority of votes.

2.   Report of the Council on results of operations in 2015.

To take notice of the Report of the Council on results of operations in 2015.
Voting: the resolution was adopted with the necessary majority of votes.

3. Report of the Auditing Committee on activities in 2015.

To take notice of the Report of the Auditing Committee on activities in 2015.
Voting: the resolution was adopted with the necessary majority of votes.

4. Approval of the Audited Consolidated Annual Report of Group and Parent Company for 2015.

To approve the Audited Consolidated Annual Report of JSC Olainfarm group and of Parent Company for 2015.
Voting: the resolution was adopted with the necessary majority of votes.

5. Distribution of profit of 2015.

5.1. To use part of the year 2015 profit of JSC Olainfarm in amount of 2 549 399.12 euros to pay dividends to shareholders of JSC Olainfarm (ISIN code of the shares LV0000100501), paying 0.181 euros per one share. Part of the profit in amount of 12 016 600.88 euros to retain undistributed and to reinvest in development of JSC Olainfarm.
Voting: the resolution was adopted unanimously.

5.2. Decline proposition of the Management board to set September 14, 2016, as a record date for dividends and September 21, 2016, as the date of payment of dividends.
Voting: the resolution was adopted with the necessary majority of votes.

5.3. Set June 21st, 2016, as a record date for dividends and June 27th, 2016, as the date of payment of dividends.
Voting: the resolution was adopted with the necessary majority of votes.

6. Report of the Board on budget and on planned operations in 2016.

To take notice of Report of the Board on budget and on planned operations in 2016, which include Parent Company’s unconsolidated turnover forecast for 2016 in amount of 86 million euro, and JSC Olainfarm consolidated turnover forecast for 2016 in amount of 100 million euro. Forecast of unconsolidated profit of JSC Olainfarm is 9 million euro, but consolidated profit is 10 million euro.
Voting: the resolution was adopted with the necessary majority of votes.

7. Election of the Certified Auditor for 2016 and setting the remuneration for the Certified Auditor.

7.1. To elect SIA Ernst & Young Baltic (license No.17, unitary registration No. 40003593454) to be the certified auditor of JSC Olainfarm in 2016.
Voting: the resolution was adopted with the necessary majority of votes.

7.2. To set 43 300 EUR as the total remuneration of certified auditor for 2016.
Voting: the resolution was adopted with the necessary majority of votes.

8. Election of the Auditing Committee for 2016 and setting the remuneration for the Auditing Committee.

8.1. To elect Viesturs Gurtlavs to be the member of the Auditing Committee.
Voting: the resolution was adopted with the necessary majority of votes.

8.2. To set the total monthly remuneration of the Auditing Committee at 4800 euro.
Voting: the resolution was adopted with the necessary majority of votes.

 

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 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 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

 

Information prepared by:
Salvis Lapins
JSC Olainfarm
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv

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SigitaDecisions Adopted by the Annual General Meeting of Shareholders of JSC Olainfarm held on June 7, 2016