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Decisions of Annual General Meeting

on April 27, 2012

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 27th, 2012, on 11.00 a.m.
Venue: Olaine, Rupnicu iela 5.
The following decisions have been adopted by the annual general meeting of shareholders:

1. Report of the Board on results of operations in 2011.

To take notice of the Report of the Board on results of operations in 2011.

Voting: the resolution was adopted unanimously.

2. Report of the Council on results of operations in 2011.

To take notice of the Report of the Council on results of operations in 2011.

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 2011.

To approve the Audited Annual Report of JSC Olainfarm for 2011.

Voting: the resolution was adopted unanimously.

5. Approval of the Audited Consolidated Annual Report for 2011.

To approve the Audited Consolidated Annual Report of JSC Olainfarm for 2011.

Voting: the resolution was adopted unanimously.

6. Distribution of profit of 2011.

6.1. To use part of the profit of JSC Olainfarm in amount of 867 793,50 lats (1234758,91 euro) to pay dividends to shareholders of JSC Olainfarm, (ISIN code of the shares LV0000100501) paying 6,16 santims per one share, but part of the profit in amount of 6 074 554,50 lats (8 643 312,36 euro) to reinvest in development of JSC Olainfarm.

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

6.2. Set August 03rd, 2012, as a record date for dividends and August 08th, 2012, as the date of payment of dividends.

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

7. Report of the Board on budget and on planned operations in 2012.

To take notice of Report of the Board on budget and on planned operations in 2012, which include Company’s unconsolidated turnover forecast for 2012 in amount of 40,00 million lats (56,91 million Euro), and JSC Olainfarm consolidated turnover forecast for 2012 in amount of 48,00 million lats (68,3 million Euro); Forecast of unconsolidated profit of JSC Olainfarm is 8,3 million lats (11,81 million Euro), but consolidated profit is 8,6 million lats (12,24 million Euro).

Voting: the resolution was adopted unanimously.

8. Election of the Certified Auditor for 2012.

8.1. Elect SIA „Ernst & Young Baltic” (license No.17, unitary registration No. 40003593454) to be the certified auditor of JSC Olainfarm in 2012.

Voting: the resolution was adopted unanimously.

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

Voting: the resolution was adopted unanimously.

9. Election of the Auditing Committee.

9.1.Elect Zanna Karaseva, personal code 150775-10415, in the Auditing Committee of JSC Olainfarm.

Voting: the resolution was adopted unanimously.

9.2. Set the monthly remuneration of the members of the Auditing Committee at 500 Ls.

Voting: the resolution was adopted unanimously.

10. Election of Council.

    1. Elect the Council of JSC Olainfarm consisting of the following members for the term of five years, setting that this terms commences at April 28th, 2012: Valentina Andrejeva; Elena Dudko; Aleksandrs Raicis; Volodimirs Krivozubovs; Talis Talents.

Voting: the following number of votes were cast for each candidate:
for V.Andrejevu – 2049476 votes, or 20,02% of votes present;
for E.Dudko – 2050712 votes, or 20,05% of votes present;
for A.Raicis – 2034284 votes, or 19,87% of votes present;
for V.Krivozubovs – 2050524 votes, or 20,03% of votes present;
for T.Talents – 2050418 votes, or 20,03% of votes present.

    1. Set the total monthly remuneration of all the Supervisory Council in the amount of not more than Ls 6000.

Voting: the resolution was adopted unanimously.

 

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