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Decisions of Annual General Meeting

on April 29, 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 JSC Olainfarm in 2010 in value of 352 126,95 lats (501 031,51 Euro) to pay dividends to shareholders of JSC 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).

 

Information prepared by:

Salvis Lapins
Member of the Board
JSC Olainfarm
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

 

 

SigitaDecisions of Annual General Meeting