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Draft resolutions of the Annual General Meeting of Shareholders of JSC Olainfarm to be held on June 1st, 2017

on May 17, 2017
  1. Report of the Board on results of operations in 2016.

Draft resolution:

To take notice of the Report of the Board on results of operations in 2016.

 

  1. Report of the Council on results of operations in 2016.

Draft resolution:

To take notice of the Report of the Council on results of operations in 2016.

 

  1. Report of the Auditing Committee on activities in 2016.

Draft resolution:

To take notice of the Report of the Auditing Committee on activities in 2016.

 

  1. Approval of the JSC Olainfarm Audited Consolidated Annual Report of Group and Parent Company for 2016.

Draft resolution:

To approve the Audited Consolidated Annual Report of JSC Olainfarm group and of Parent Company for 2016.

 

  1. Distribution of reserves.

Draft resolution:

5.1. To use part of JSC Olainfarm reserve in amount of EUR 281 701.56 (two hundred eighty one thousand seven hundred and one euro and 56 eurocents) to pay out to JSC Olainfarm shareholders (ISIN code of the shares LV0000100501), paying EUR 0.02 (two eurocents) per share.

5.2. Set December 15, 2017, as the record date and December 20, 2017, as the date of payment of the reserve’s part in amount of EUR 281 701.56 (two hundred eighty one thousand seven hundred and one euro and 56 eurocents).

5.3. The remaining part of the reserve in amount of EUR 40 449.68 (forty thousand four hundred forty nine euro and 68 eurocents) to remain with JSC Olainfarm reserve.

 

  1. Distribution of profit of 2016.

Draft resolution:

6.1. To use part of the year 2016 profit of JSC Olainfarm in amount of EUR 9 014 449.92 (nine million fourteen thousand four hundred forty nine euro and 92 cents) to pay dividends to shareholders of JSC Olainfarm, (ISIN code of the shares LV0000100501) paying in dividends EUR 0.64 per one share effectuating payment in three stages in II, III and IV quarters, but part of the profit in amount of EUR 625 550.08 (six hundred twenty five thousand five hundred fifty euro and 08 eurocents) to retain undistributed and to reinvest in development of JSC Olainfarm. Dividends of EUR 0.22 per share shall be paid in stage I, dividends of EUR 0.22 per share shall be paid in stage II and dividends of EUR 0.20 shall be paid in stage III.

6.2. Set the following order for calculation and payment of dividends:

I stage (II quarter): Set June 15, 2017, as the record date and June 20, 2017, as the date of payment;

II stage (III quarter): Set September 7, 2017, as the record date and September 12, 2017, as the date of payment;

III stage (IV quarter): Set December 7, 2017, as the record date and December 12, 2017, as the date of payment.

 

  1. Report of the Board on budget and on planned operations in 2017.

Draft resolution:

To take notice of Report of the Board on budget and on planned operations in 2017, which include JSC Olainfarm unconsolidated turnover forecast for 2017 in amount of 96 million euro and JSC Olainfarm unconsolidated profit in .amount of 12.7 million euro, consolidated turnover forecast for 2017 in amount of 127 million euro, but consolidated profit in amount of 15.5 million euro.

 

  1. Amendment of Statutes.

Draft resolution:

8.1. Express article 6.2. of the Statutes as follows:

„6.2. Revision commission consists of three members of the revision commission. Members of the revision commission are elected at the shareholders meeting for 2 (two) years term.”

8.2. Approve new edition of the Statutes.

 

  1. Election of the Certified Auditor for 2017 and setting of remuneration of the Certified Auditor.

Draft resolutions:

9.1. to elect SIA Ernst & Young Baltic (license No.17, unitary registration No. 40003593454) to be the certified auditor of JSC Olainfarm in 2017.

9.2. to set  EUR 47 600 + VAT as the total remuneration of the Certified Auditor for 2017.

 

  1. Election of the Auditing Committee and setting of remuneration of the Auditing Committee.

Draft resolutions:

10.1. Elect member of the JSC Olainfarm Auditing Committee:

– Deputy Head of the Council Valentina Andrejeva,

– Member of the Council Gunta Veismane,

– Viesturs Gurtlavs.

10.2. Set monthly remuneration of the Auditing Committee in amount of EUR 5350.00.

 

  1. Elections of the Council.

Draft resolution:

11.1. To elect the Council of JSC Olainfarm consisting of the following members for the further term of five years, setting that term of the Council powers commences on June 02, 2017.

Name, last name:

  1. Valentīna Andrējeva
  2. Andis Krūmiņš
  3. Ivars Godmanis
  4. Aleksandrs Raicis
  5. Gunta Veismane

11.2. To set the total monthly remuneration of all the Council members at the amount of EUR 13500,00 (thirteen thousand five hundred euro).

 

Management Board of Joint Stock Company Olainfarm

 

 

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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