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Draft Resolutions of the Annual General Meeting of Shareholders of Olainfarm to be held on April 29, 2011

on April 15, 2011

1.  Report of the Board on results of operations in 2010.

Draft resolution:

To take notice of the Report of the Board on results of operations in 2010.

 

2. Report of the Council on results of operations in 2010.

Draft resolution:

To take notice of the Report of the Council on results of operations in 2010.

 

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 2010.

Draft resolution:

To approve the Audited Annual Report of JSC Olainfarm for 2010.

 

5. Approval of the Audited Consolidated Annual Report for 2010.

Draft resolution:

To approve the Audited Consolidated Annual Report of JSC Olainfarm for 2010.

 

6. Distribution of net profit of 2010.

Draft resolution:

To use 352 126.95 lats (501 031.51 euros) from the net profit of JSC Olainfarm of 2010 to pay dividends of 2.5 Latvian santims (3.557 euro cents) per share to shareholders of JSC Olainfarm (ISIN Code of shares LV0000100501), and to invest the remaining part of the net profit of 2010 in amount of 3 191 542.05 lats (4 541 155.22 euro) in development of the Company. To set June 15th, 2011 to be the record date for dividends.

 

7. Report of the Board on budget for 2011 and on planned operations in 2011

Draft resolution:

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).

 

8. Election of the Certified Auditor for 2011.

Draft resolutions:

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;

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.

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 500 lats (711 Euros)

 

10.  Upon the request made by shareholder SIA „Olmafarm”, item of the agenda „Elections of the Supervisory Council” previously additionally included in the agenda upon the request of the same shareholder, has been withdrawn from the agenda of the Annual General Meeting of Shareholders of JSC Olainfarm.

 

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

 

SigitaDraft Resolutions of the Annual General Meeting of Shareholders of Olainfarm to be held on April 29, 2011